In a surprising revelation, President Donald Trump stated on Sunday that he was unaware of Changpeng Zhao, the billionaire founder of the popular crypto exchange Binance, despite having pardoned him just a month earlier. During an interview on CBS's 60 Minutes, Trump responded to a question about Zhao, saying, “I don’t know who he is.” This commentary raises questions about the nature of Trump's connection to individuals involved in the cryptocurrency industry.
Trump elaborated on his lack of knowledge, stating, “I know nothing about the guy,” when pressed further about Zhao. He attributed Zhao’s legal troubles to what he termed the “weaponization” of the Justice Department, although he did not provide specific details regarding these accusations. Federal prosecutors had previously indicated that Zhao's actions resulted in “significant harm to US national security,” a serious charge that adds complexity to Trump's claims.
Interestingly, Trump acknowledged that his sons are actively involved in the cryptocurrency sector, saying, “I’m glad they are, because it’s probably a great industry, crypto. I think it’s good.” This statement highlights the potential for a conflict of interest, particularly as Zhao, also known as “CZ,” has business ties to the Trump family’s own crypto ventures. Notably, Zhao was implicated in a guilty plea deal that resulted in a four-month prison sentence and hefty fines, including $4 billion levied against Binance.
The Trump family's financial connections to Zhao are significant, as World Liberty Financial, a firm co-founded by Trump’s sons Eric and Donald Trump Jr., has engaged in various crypto projects associated with the family. Reports indicate that the main cryptocurrency from World Liberty Financial operates on a platform managed by Binance, further entrenching the intricate web of relationships.
The timing of Trump’s comments comes as he and his Republican allies have been vocal in their critiques of former President Joe Biden, claiming he was uninformed about many of his presidential actions, including pardons. Trump previously asserted, “I guarantee you he knew nothing about what he was signing,” suggesting that Biden’s use of an autopen signature for official documents indicates a lack of awareness or involvement.
In light of Trump’s recent remarks, some within the Republican Party have expressed concern about the implications of the pardon. Outgoing Sen. Thom Tillis (R-N.C.) described the pardon as a “bad signal” amidst the backdrop of significant financial crimes. This controversy has led to broader discussions regarding the legitimacy of executive actions taken by both Trump and Biden.
The White House has not yet responded to requests for comment regarding Trump’s statements about Zhao. Meanwhile, a spokesperson for Biden pointed to a social media post by former Biden spokesperson Andrew Bates, questioning, “Who’s running the White House?” in response to Trump's claim of ignorance about Zhao, further emphasizing the ongoing political discourse around these pardons.
As the narrative develops, the public remains keenly interested in the intersections of politics, family business interests, and the burgeoning cryptocurrency market. Trump's admission of ignorance raises questions about accountability and transparency in presidential pardons, particularly when they involve close ties to family enterprises.
