Binance Founder Reacts to Trump’s Pardon

The founder of Binance, the largest cryptocurrency exchange globally, expressed surprise about President Donald Trump’s recent pardon during an interview on “Special Report.” Changpeng “CZ” Zhao stated, “We have never met. We’ve never talked.”

Zhao had pleaded guilty to money laundering charges in 2023, receiving a four-month prison sentence while under the Biden administration. Trump granted him a pardon on October 21, highlighting an apparent shift in the political landscape regarding cryptocurrency.

White House press secretary Caroline Levitt described the pardon as marking the end of what she called “the Biden administration’s war on the cryptocurrency industry.”

In a separate interview, Trump admitted he did not know Zhao personally. Zhao refuted claims linking him to the Trump family, despite suggestions that his pardon might relate to Binance’s supposed agreements with Trump’s cryptocurrency initiative, World Liberty Financial. “That’s not accurate at all,” Zhao insisted. “There is no agreement, there is no discussion of any kind. It’s that simple.”

Interestingly, Zhao mentioned he had once met Eric Trump at a Bitcoin conference, but he maintained that there are no significant ties between them.

He criticized the Wall Street Journal’s report claiming a business relationship with Trump’s sons, labeling it “completely false.” Zhao acknowledged his guilty plea resulted from not implementing a proper anti-money laundering program, stating, “I think it’s the best way to face the issue head-on and resolve it.”

Furthermore, Zhao highlighted Trump’s GENIUS Act, which introduces federal regulations for cryptocurrencies, as evidence that the U.S. is taking a lead in virtual currency oversight. He emphasized the need for greater transparency in the industry, reflecting on how the regulatory framework has improved since he faced charges.

In response to Zhao’s remarks, the Wall Street Journal stood by its initial reporting, affirming its position in the matter.