Trump Defends CZ Pardon, Denies Binance Ties After $2B Crypto Deal
Trump says he “didn’t know” Binance’s CZ despite pardoning him, denying any link to a $2B crypto deal involving his family’s firm, World Lib
Quick overview
- In a recent 60 Minutes interview, President Trump denied any connection between his pardon of Binance founder Changpeng Zhao and his family's cryptocurrency ventures.
- Trump described the pardon as a reflection of his administration's pro-crypto stance and called Zhao a 'respected entrepreneur.'
- The pardon has raised bipartisan concerns, prompting calls for a congressional review of potential links between Binance and the Trump administration.
- Democrats are drafting new ethics rules to prevent officials from holding or trading crypto assets, highlighting the blurred lines between policy and personal profit.
In his first 60 Minutes interview in five years, President Donald Trump denied any connection between his pardon of Binance founder Changpeng “CZ” Zhao and his family’s cryptocurrency ventures.
Speaking with Norah O’Donnell at Mar-a-Lago, Trump said he had “no idea who Zhao was,” calling the case a “Biden witch hunt” against crypto entrepreneurs. “He got a short sentence, and I think he was treated unfairly,” Trump said, describing his decision as “policy-driven, not personal.”
Binance Deal Sparks Questions
The interview turned tense when O’Donnell brought up reports that Binance had purchased $2 billion worth of World Liberty Financial stablecoins—linked to Trump’s family—earlier this year.
Trump dismissed the connection: “I know nothing about that. My sons handle the business. They’re not in government.”
He added that his family’s crypto dealings are “completely separate from official duties,” emphasizing his goal of keeping the US at the forefront of financial innovation.
Key takeaways from the exchange:
- Trump said Zhao’s pardon reflected his administration’s broader pro-crypto stance.
- He described Zhao as a “respected entrepreneur.”
- The White House said it was unaware of Binance’s deal before the pardon.
Trump reiterated that his focus remains on technology leadership: “We’re number one in AI, and we’ll stay number one in crypto.”
Political Fallout
The pardon has triggered bipartisan concern in Washington. Senators Elizabeth Warren and Adam Schiff have called for a congressional review of possible links between Binance and the Trump administration.
Democrats are also drafting new ethics rules to bar officials from holding or trading crypto assets, citing blurred lines between policy and profit.
Speculation around Zhao’s release began weeks before Trump’s inauguration in late 2024, when industry lobbyists started pushing for friendlier digital-asset policies.
For now, the administration maintains that the pardon reflects Trump’s campaign promise to end “political targeting” and promote blockchain innovation. But the controversy underscores how deeply digital assets have entered the political arena—raising questions about where crypto policy ends and personal interest begins.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save