Trump Pardons Binance Founder, Claims Ignorance of Identity

In his first "60 Minutes" interview in five years, former President Donald Trump addressed his decision to pardon Binance founder Changpeng "CZ" Zhao. Trump asserted he had no personal knowledge of Zhao, claiming he was informed the prosecution by the Biden administration was politically motivated. The pardon has drawn scrutiny, particularly concerning Binance's significant transaction involving Trump's family's stablecoin earlier this year.

Key Takeaways

Trump stated he "didn't know" Binance CEO Changpeng "CZ" Zhao.
He claimed Zhao was targeted by a "Biden witch hunt."
Trump denied knowledge of Binance's $2 billion transaction with his family's firm.
He emphasized his focus on making America "number one in crypto."

Defense of the Pardon

When questioned by correspondent Norah O'Donnell about the pardon of Zhao, who pleaded guilty to anti-money-laundering violations, Trump stated, "I don't know who he is. I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt."

Addressing "Pay for Play" Concerns

Regarding the appearance of impropriety due to Binance's $2 billion purchase of his family firm's stablecoin, Trump claimed he was "too busy" to know about it. He also differentiated his sons' business activities from government affairs, stating, "They're running a business, they're not in government."

Crypto and National Interest

Trump described Zhao as a "respected" entrepreneur who was a "victim of weaponization by government." He framed his decision as part of a broader strategy to bolster the U.S. crypto sector and maintain its leading position globally, comparing it to the nation's standing in artificial intelligence. "I wanna make crypto great for America. That's the only thing," Trump declared.

Broader Context and Scrutiny

The interview, taped at Mar-a-Lago, also touched upon the government shutdown, immigration, and trade relations. The explanation for Zhao's pardon marks the first on-record statement, following speculation and reports of lobbying efforts. Democrats have voiced criticism, with some suggesting Binance influenced the pardon through payments and lobbying, and Senators Elizabeth Warren and Adam Schiff have called for a congressional review of any connections between Binance and the Trump administration.

Sources

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