Trump Denies Knowing Binance’s CZ After Controversial Pardon

President Donald Trump stated in a recent interview that he does not know Changpeng Zhao, the founder of Binance, despite granting him a presidential pardon last month.

The pardon has sparked debates over potential conflicts of interest, particularly given Binance's ties to the Trump family's cryptocurrency ventures.

During a CBS "60 Minutes" interview, Trump dismissed questions about the pardon, calling it a “Biden witch hunt” and insisted he was "too busy" to be involved with Binance’s $2 billion deal linked to the Trump-backed World Liberty Financial stablecoin.

Trump Shrugs Off Crypto Queries Amid Scrutiny

When pressed about why he pardoned Zhao, who pleaded guilty in 2023 to violating anti-money laundering (AML) laws, Trump replied, "I don’t know who he is…

I know he got a four-month sentence or something like that and I heard it was a Biden witch hunt."

He distanced himself from his family’s crypto dealings, saying, "My sons are running a business… I’m glad they are because it’s probably a great industry. They’re not in government."

This comes amid reports that Binance facilitated a $2 billion investment involving the Trump family’s World Liberty Financial stablecoin, USD1.

The deal reportedly involved an Abu Dhabi government-backed investment fund channeling funds through World Liberty, heightening demand for the Trump family’s crypto token.

Critics, including Senator Elizabeth Warren, have labeled this a "corruption" scheme, suggesting Trump personally benefits.

Warren's public criticism led Zhao to threaten a defamation lawsuit. However, Warren's lawyer responded that her statements are factually supported by public records, emphasizing Zhao’s guilty plea to AML law violations.

The dispute highlights the ongoing political and legal battle surrounding cryptocurrency regulation and political influence.

President Trump also shifted focus to domestic issues in the interview, blaming Democrats for the prolonged government shutdown and renewing criticism of the Affordable Care Act, calling it "terrible" and "too expensive."

Binance Eyes Return to U.S. Market Post-Pardon

Following Trump’s pardon, Binance is reportedly exploring ways to re-enter the U.S. market.

Zhao’s legal troubles, including his prison sentence for AML violations, have cast a shadow over the crypto giant’s American operations.

The pardon potentially clears regulatory hurdles but continues to fuel controversy over crypto’s relationship with political power.

The pardon drew swift criticism from lawmakers who see it as an example of political favoritism toward a company that has financially intertwined itself with the Trump family, especially through the controversial $2 billion stablecoin deal.