Trump Dismisses Recognition of Pardoned Binance Cryptocurrency Mogul
In a recent interview with CBS’s 60 Minutes, former President Donald Trump stated he does not know Changpeng Zhao, the founder of cryptocurrency exchange Binance, despite having pardoned him the previous month. During the discussion, Trump maintained that Zhao was a victim of political persecution by the Biden administration.
Pardon for Binance Founder
Changpeng Zhao, also known as C.Z., is a Chinese-born Canadian businessman. He received a four-month prison sentence two years ago for a charge related to money laundering. Following his release, Binance faced restrictions in the U.S., where the government accused Zhao of facilitating national security threats.
Details from the 60 Minutes Interview
When asked about Zhao during the interview, Trump remarked, “I don’t know who he is.” Despite this, he acknowledged Zhao’s pardon, emphasizing that he believed Zhao was wrongfully accused. Trump claimed many people supported Zhao, noting that his actions didn’t constitute a crime.
Host Norah O’Donnell raised concerns about potential conflicts of interest, given that Zhao’s exchange had connections to World Liberty Financial, a stablecoin firm established by Trump’s sons, Eric and Donald Jr.
Connections to World Liberty Financial
- World Liberty Financial founded in 2022.
- Facilitated a significant $2 billion purchase of stablecoins through Binance.
- Trump’s sons denied any linkage between the company’s activities and Zhao’s pardon.
National Security Allegations Against Binance
The U.S. government previously accused Zhao of enabling terrorist organizations to move substantial sums of money. These allegations were a primary reason for the ban on Binance’s operations in the United States.
Trump’s Assertions About the Pardon
Following the announcement of Zhao’s pardon, Trump faced questions about his motivations. He reiterated that many believed Zhao was innocent and that the decision stemmed from support he received from various individuals. Trump concluded by expressing his positive view of the cryptocurrency industry, stating, “It’s probably a great industry, crypto.”
As discussions continue regarding the implications of Zhao’s pardon, the intersection of cryptocurrency with politics remains a contentious topic.
