Trump denies personal link to CZ after Binance founder’s pardon
President Donald Trump told “60 Minutes” he did not know Changpeng “CZ” Zhao, days after granting the convicted Binance founder a full and unconditional pardon on October 23, forcing the White House to square a high-profile clemency case with the president’s claim of no personal connection.
In the interview, Trump said he had been told Zhao was targeted in a “Biden witch hunt” and suggested crypto-related matters were handled by his team, not him directly.
Pressed by interviewer Norah O’Donnell on why he pardoned a billionaire whose company U.S. authorities had previously linked to sanctions and terror-finance lapses, Trump answered, “I don’t know who he is,” before adding that he had heard the case was political.
Pressed by interviewer Norah O’Donnell on why he pardoned a billionaire whose company U.S. authorities had previously linked to sanctions and terror-finance lapses, Trump answered, “I don’t know who he is,” before adding that he had heard the case was political.
The October 23 pardon closed out Zhao’s U.S. exposure a year after he served a short custodial sentence for Bank Secrecy Act violations tied to Binance’s compliance failures. The clemency order came shortly after Zhao had completed supervised release, and after U.S. agencies had repeatedly described the original offenses as causing “significant harm” to national-security interests. Trump’s on-air denial that he knew the beneficiary of the pardon therefore put the focus on who inside the administration advanced the clemency and on what basis.
O’Donnell also asked about the optics of issuing that pardon while Trump-aligned businesses expand digital-asset ventures, citing reports of Binance-connected backing for a multibillion-dollar crypto ties to his family. MGX, a sovereign investment arm of Abu Dhabi, used USD1 in May to execute a $2 billion equity acquisition in Binance - the globe’s top crypto exchange by volume. The position anchors roughly three-quarters of all USD1 tokens in circulation, which World Liberty frames as quantitative validation of “exceptional global uptake.”
Trump said his sons “handle those things” and again framed Zhao as someone caught in partisan crossfire. The president did not offer a detailed policy rationale for restoring Zhao’s civil rights so soon after U.S. courts and regulators had finished their own casework.
U.S. authorities originally described Binance’s failings as enabling transactions tied to drug trafficking, child-abuse material and sanctioned jurisdictions; Zhao pleaded guilty to violating US anti-money laundering laws in late 2023 and stepped down as CEO, paying a large personal penalty.
O’Donnell also asked about the optics of issuing that pardon while Trump-aligned businesses expand digital-asset ventures, citing reports of Binance-connected backing for a multibillion-dollar crypto ties to his family. MGX, a sovereign investment arm of Abu Dhabi, used USD1 in May to execute a $2 billion equity acquisition in Binance - the globe’s top crypto exchange by volume. The position anchors roughly three-quarters of all USD1 tokens in circulation, which World Liberty frames as quantitative validation of “exceptional global uptake.”
Trump said his sons “handle those things” and again framed Zhao as someone caught in partisan crossfire. The president did not offer a detailed policy rationale for restoring Zhao’s civil rights so soon after U.S. courts and regulators had finished their own casework.
U.S. authorities originally described Binance’s failings as enabling transactions tied to drug trafficking, child-abuse material and sanctioned jurisdictions; Zhao pleaded guilty to violating US anti-money laundering laws in late 2023 and stepped down as CEO, paying a large personal penalty.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
