'No idea who he is', says Trump after pardoning crypto tycoon
6 months ago
- #Binance
- #Trump
- #cryptocurrency
- US President Donald Trump claims he does not know who Changpeng Zhao (CZ) is, despite pardoning him.
- CZ, founder of Binance, pleaded guilty to money laundering in 2023 and served four months in prison.
- Trump defended the pardon, calling CZ a victim of a 'witch hunt' by the Biden administration.
- Trump emphasized the need for the US to lead in cryptocurrency to counter China's influence.
- The pardon removes restrictions on Zhao but does not clarify his regulatory standing or Binance role.
- White House Press Secretary Karoline Leavitt criticized the Biden administration's prosecution of Zhao as part of a 'war on cryptocurrency'.
- Binance remains the world's most used crypto exchange.
- Trump has previously pardoned other crypto figures, including BitMEX founders and Silk Road's Ross Ulbricht.