U.S. President Donald Trump has recently addressed the presidential pardon granted last month to Binance‘s founder and former CEO, Changpeng Zhao. In an interview with CBS News, Trump insisted he did not personally know Zhao, stating that the pardon was not a result of any personal relationship. Trump argued that the decision was made to preserve the United States’ competitive edge in the cryptocurrency sector, a move that has attracted significant attention and mixed responses.
Trump’s Claim of Unfamiliarity with Zhao
During the CBS interview with journalist Norah O’Donnell, Trump commented on Zhao’s situation, suggesting Zhao was “unjustly targeted” by the Biden administration. Trump described the former Binance CEO as a victim of an overreaching government and emphasized that the pardon was aimed at ensuring justice and maintaining U.S. leadership in the cryptocurrency industry.
“I don’t know him, I don’t think I’ve ever met him. Maybe he shook my hand, but I really don’t know who he is,” Trump explained, comparing Zhao’s experiences with what he perceives as systemic victimization similar to his own. The pardon was announced in October following Zhao’s four-month sentence related to violations of the Bank Secrecy Act.
“A Pardon Bought with Money” Criticism
Trump’s remarks have sparked intense criticism, especially from the Democratic Party. Senator Elizabeth Warren criticized the pardon as symptomatic of a corrupt system driven by financial interests, alleging Zhao’s financial ties with Trump-affiliated businesses. Trump rebuffed these conflict of interest claims, asserting that his family’s business activities were completely separate from his administration. “My sons are in business, but they are not in government,” he defended.
In response, Zhao’s lawyer dismissed Warren’s allegations as defamatory, arguing that these claims aimed to damage Zhao’s reputation. The discussions have unveiled a new dimension of tension in Washington, where cryptocurrency regulations intersect with political relationships, hinting at broader implications for the industry and governance.
