Former Binance CEO, Chao Changpeng, recently denied any business connections with President Trump or his sons, stating he was surprised by the pardon he received last month.
“My attorney submitted the petition in April,” Zhao mentioned during an interview with Fox News’ Bret Baier on “Special Report.” He described the pardon as unexpected, noting, “It took several months. We didn’t know the progress, or exactly how far along we were.” It simply happened one day, he reflected.
When Baier questioned whether Zhao was collaborating with companies linked to Eric and Donald Trump Jr., Zhao firmly called that claim “completely false.”
According to a quote from the Wall Street Journal, Zhao’s representatives discussed a potential deal with World Liberty Financial, a cryptocurrency firm operated by the Trump sons, after the 2024 election, suggesting it might alleviate Binance’s financial troubles and possibly lead to a pardon. However, Zhao rejected any such claims: “There is no agreement, there is no discussion of any kind,” he asserted. “It’s that simple.”
He maintained that he has “absolutely no” business ties with either the Trumps or World Liberty Financial. While he admitted to having met Eric Trump once at a Bitcoin conference in Abu Dhabi, he stressed that he had never met the president.
When asked about his guilty plea, Zhao explained that it was an effort “to face the problem head-on and solve it,” though he didn’t elaborate on the specific charges.
In 2023, Zhao pleaded guilty to not maintaining an effective anti-money laundering program and faced a four-month prison sentence. Binance settled a range of related charges with the Department of Justice for $4.3 billion.
During a recent interview, CBS News’ Norah O’Donnell asked Trump about pardons. He responded, “I don’t know who he is,” and acknowledged Zhao’s prison sentence, dismissing it as part of a “witch hunt” by the Biden administration. Trump added, “My sons are much more involved in cryptocurrencies than I am. I know very little about cryptocurrencies other than it’s a huge industry.” He expressed confidence that even if the U.S. didn’t lead in this space, nations like China or Japan would.
White House press secretary Caroline Levitt stated the president used his constitutional authority to pardon Zhao, asserting that he was “prosecuted by the Biden administration in the crypto war,” emphasizing there was never a conflict of interest involved.
Joe Lonsdale, a venture capitalist and supporter of Trump, commented that the president made a sound decision in pardoning Zhao. Posting on social media, Lonsdale expressed concern over the advice Trump’s administration received, suggesting it shows massive fraud occurring within this area.
