Trump claims he does not know Changpeng Zhao
(MENAFN) US President Donald Trump has said he does not know Changpeng Zhao, despite having pardoned the billionaire cryptocurrency entrepreneur last month.
During an interview broadcast on Sunday, Trump addressed questions about the pardon. Zhao, also known as “CZ,” admitted in 2023 to enabling money laundering, served four months in prison, and stepped down as CEO of Binance, the crypto exchange he co-founded.
The crypto executive’s companies have collaborated on digital-currency ventures with firms connected to Trump, including Dominari Holdings, based in Trump Tower with his sons on the advisory board.
Asked why he pardoned Zhao despite prosecutors stating he caused “significant harm to US national security,” Trump replied: “Okay, are you ready? I don't know who he is.” He added that he did not recall meeting Zhao and had “no idea who he is,” noting only that he had been told Zhao was a victim of a “witch hunt” by the Biden administration.
Trump also voiced his backing for cryptocurrencies, emphasizing the need for the US to maintain a leadership role in the sector to avoid ceding an advantage to China and other rivals.
The presidential pardon lifts restrictions that had prevented Zhao from engaging in financial ventures, though it is unclear if it affects his regulatory standing or his involvement with Binance.
At the time of the pardon, the White House described Zhao’s prosecution as part of a “war on cryptocurrency” under the Biden administration. “This was an overly prosecuted case by the Biden administration,” a spokesperson said, adding that the case had been “thoroughly reviewed” and that Trump was exercising his constitutional authority to correct the “misjustice.”
Binance remains the world’s most widely used crypto exchange. The Trump administration previously ended a fraud case against crypto entrepreneur Justin Sun, following his investment in the Trump family’s crypto venture, World Liberty Financial. In May, a stablecoin launched by World Liberty Financial was set to facilitate a $2bn investment in Binance by an Abu Dhabi firm.
Trump has also pardoned founders of BitMEX, linked to money-laundering charges, and Ross Ulbricht, the founder of Silk Road, the dark web marketplace known for drug trading.
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