Trump pardons Binance CEO Zhao, claims he doesn't know him
U.S. President Donald Trump stated that he does not know Changpeng Zhao, CEO of Binance, despite having granted him a pardon last month. Zhao, also known as "CZ," pleaded guilty in 2023 to facilitating money laundering and served four months in prison, stepping down as CEO of Binance, one of the world's largest cryptocurrency exchanges.
The pardon lifts restrictions preventing Zhao from leading financial ventures in the U.S., although it is unclear whether it affects his standing with U.S. regulators. The White House described the decision as correcting an "over-prosecution" under the Biden administration, framing it as part of a "war on cryptocurrency."
Zhao and his companies have collaborated with firms associated with the Trump family on digital projects, including Dominari Holdings, where the president's sons serve on the advisory board. In a CBS News interview, Trump emphasized his support for the cryptocurrency industry and highlighted the need for the U.S. to remain a leader in digital technology.
