Trump Claims Ignorance of Binance's CZ Zhao After Granting Pardon

Trump Claims Ignorance of Binance's CZ Zhao After Granting Pardon

During a recent 60 Minutes interview, President Donald Trump stated that he doesn’t know who Binance founder Changpeng “CZ” Zhao is, even though he pardoned him last month.

Key Takeaways:

Trump stated he “doesn’t know” Binance founder CZ Zhao despite having granted him a pardon.
He dismissed inquiries regarding Binance's involvement in a $2 billion deal tied to his family's stablecoin, saying he was "too busy."
The president blamed Democrats for the ongoing government shutdown and reiterated his criticism of the Affordable Care Act.

In the interview, Trump was questioned about Zhao’s situation and his family's business activities in cryptocurrency but waved off the inquiries, labeling them a “Biden witch hunt.”

When asked for clarification on his decision to pardon Zhao, who had pleaded guilty in 2023 for violating anti-money laundering regulations, Trump remarked, “Are you ready? I don’t know who he is… I know he received a four-month sentence or something like that, and I heard it was a Biden witch hunt.”

Trump Dismisses Questions About Binance’s $2 Billion Deal

Interviewer Norah O’Donnell pressed further, highlighting Binance's role in a “$2 billion purchase” involving a stablecoin backed by the Trump family’s World Liberty Financial. Trump brushed off the inquiry, asserting, “I know nothing about it because I’m too busy."

When questioned about his family’s crypto endeavors, Trump stated that his sons operate a business and emphasized his lack of personal involvement. "I’m glad they are [in crypto] because it’s probably a great industry. They’re running a business, they’re not in government,” he stated.

The president's remarks come amidst increased scrutiny regarding the connections between Binance and World Liberty Financial, a Trump family initiative that has reportedly gained support from cryptocurrency firms. The pardon granted to Zhao, who faced a four-month prison sentence, has raised concerns among lawmakers who perceive it as a potential conflict of interest.

In the same interview, Trump shifted focus to domestic concerns, particularly the ongoing government shutdown, which is set to become the longest in U.S. history. “The Republicans are voting almost unanimously to end it, and the Democrats keep voting against ending it,” he commented, although he did not propose a specific plan for reopening the government, expressing optimism that Democrats would “give in.”

Trump also reiterated his criticisms regarding healthcare, labeling the Affordable Care Act (ACA) as “terrible” and “too expensive.”

Legal Repercussions: Warren's Lawyer Responds to CZ Defamation Threat

In related news, Senator Elizabeth Warren's attorney has dismissed a defamation threat from Zhao, asserting that her remarks concerning his criminal conviction were accurate and based on public records. This conflict arose from a post on X, where Warren condemned Trump's pardon of Zhao, branding it as “corruption.”

Zhao’s lawyer, Teresa Goody Guillén, called for a retraction, alleging Warren impugned her client’s reputation. In response, Warren's attorney, Ben Stafford, contended that any defamation claim would be “without merit,” emphasizing Zhao's guilty plea for violating the Bank Secrecy Act due to inadequate anti-money laundering safeguards at Binance.

Stafford clarified that Warren's statement did not accuse Zhao of direct money laundering but affirmed that he violated AML laws—this assertion, he said, is “true in all respects.” Warren also claimed that Zhao financially supported Trump’s stablecoin and advocated for a pardon, referencing media reports linking Binance to the Trump family’s cryptocurrency venture, World Liberty Financial.

As these developments unfold, Binance is reportedly considering strategies to re-enter the U.S. market following Trump’s pardon of CZ.