US President Donald Trump has said he does not know Changpeng Zhao, the billionaire founder of Binance, even though he granted him a presidential pardon last month.
In an interview with CBS News’ 60 Minutes, Trump was questioned about his decision to pardon Zhao, who is also known as “CZ.” Zhao had pleaded guilty in 2023 to charges related to money laundering and served four months in prison. As part of the plea, he stepped down as CEO of Binance, one of the world’s largest cryptocurrency exchanges. Trump was asked why he pardoned Zhao despite US prosecutors claiming that his actions had caused “serious harm to national security.” In response, Trump said, “Okay, are you ready? I don’t know who he is.”
The president went on to explain that he had no personal connection with Zhao and did not remember ever meeting him. He said he was told that Zhao had been treated unfairly during the Biden administration and may have been a victim of a political “witch hunt.”
Interestingly, some of Zhao’s companies have worked with firms linked to Trump’s family. One of these ventures, Dominari Holdings, operates out of Trump Tower and includes Trump’s sons on its board of advisers.
During the interview, Trump also spoke positively about cryptocurrencies, saying the United States must remain a leader in digital finance. He warned that countries like China could gain an edge if America failed to strengthen its position in this fast-growing industry.
Trump’s comments have stirred debate, with critics questioning the motives behind the pardon and supporters saying it aligns with his pro-business, pro-crypto stance.