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Trump claims no knowledge of Changpeng Zhao despite controversial pardon
U.S. President Donald Trump stated in a 60 Minutes interview broadcast Sunday that he does not know Changpeng Zhao, the cryptocurrency billionaire he pardoned last month, despite Zhao's ties to Trump-linked ventures and a guilty plea for enabling money laundering in 2023.
Pardon raises questions over motives
Zhao, widely known as "CZ," served four months in prison after admitting to facilitating illicit financial flows and stepping down as CEO of Binance, the world's largest crypto exchange. His companies have since collaborated with firms connected to Trump, including Dominari Holdings-a digital-currency project where Trump's sons serve as advisers and which operates from Trump Tower.
When pressed by 60 Minutes host Norah O'Donnell about the pardon-criticized for undermining national security-Trump replied,
He later claimed ignorance of Zhao's identity, framing the prosecution as a "witch hunt" by the Biden administration."Okay, are you ready? I don't know who he is."
Broader crypto advocacy
Trump defended his support for cryptocurrencies during the interview, arguing that U.S. leadership in the sector is critical to prevent China and rival nations from dominating the technology. The pardon removes legal barriers blocking Zhao from financial ventures, though its impact on regulatory scrutiny or his Binance role remains unclear.
White House Press Secretary Karoline Leavitt previously dismissed criticism of the pardon as politically motivated, calling Zhao's prosecution under Biden part of a "war on cryptocurrency." She asserted the case was "thoroughly reviewed" and that Trump acted to correct "overreach."
Pattern of crypto-related clemency
The Zhao pardon follows Trump's intervention in other high-profile crypto cases. Earlier this year, his administration halted fraud charges against entrepreneur Justin Sun, who had invested in Trump's family-backed crypto firm, World Liberty Financial. In May, a stablecoin from that firm was tapped for a $2 billion Abu Dhabi investment in Binance.
Trump has also pardoned BitMEX founders convicted of money laundering and Ross Ulbricht, creator of the dark web's Silk Road marketplace, known for drug trafficking.
