Trump Claims Ignorance of Pardoned Crypto Founder

Former President Donald Trump recently asserted he has no recollection of Changpeng Zhao, the billionaire founder of cryptocurrency exchange Binance, despite having granted him a presidential pardon just months prior. The surprising claim emerged during a “60 Minutes” interview that aired Sunday, where Trump was pressed on his decision to pardon Zhao, known widely as “CZ,” who had pleaded guilty to enabling money laundering. Federal prosecutors had previously contended that Zhao’s actions caused “significant harm to … national security.”

Former President’s Surprising Claim

“OK, are you ready? I don’t know who he is,” Trump told CBS News’ Norah O’Donnell when questioned about the October pardon. He further stated that he did not recall ever meeting Zhao and reiterated having “no idea who he is,” beyond being informed that the prominent crypto executive was a target of a “witch-hunt” orchestrated by former President Joe Biden. This denial of familiarity comes despite the high-profile nature of Zhao’s case and the presidential act of clemency.

The Case Against “CZ”

In 2023, Changpeng Zhao admitted guilt to charges related to violating anti-money laundering regulations. His company, Binance, the world’s largest cryptocurrency exchange, was accused of failing to flag suspicious transactions involving entities like Hamas and al-Qaida. Following his plea, Zhao issued an apology, paid a substantial $50 million fine, and served nearly four months in prison before Trump’s pardon intervened.

A Pardon Amidst Controversy

The White House, at the time of the pardon, justified the decision by framing Zhao’s prosecution as part of the Biden administration’s “war on cryptocurrency.” Trump has publicly expressed his ambition for the United States to lead in the burgeoning cryptocurrency sector. In response to his pardon, Zhao pledged on X (formerly Twitter) to “do everything we can to help make America the Capital of Crypto,” directly thanking the former president. Notably, Zhao has retained his significant stake in Binance, an exchange that has conducted business with World Liberty Financial, a cryptocurrency firm owned by Trump’s own family.

Broader Political Context

Trump’s apparent lapse in memory regarding the pardon of Zhao surfaces amidst an intense Republican-led scrutiny of the prior Biden administration. This scrutiny has focused on alleged attempts to conceal the former president’s mental and physical decline, as well as the controversial use of autopen signatures. An autopen is a machine designed to replicate a person’s signature, enabling the rapid signing of numerous documents. On October 28, the Republican-controlled House Oversight Committee released a report specifically addressing Biden and the use of autopen signatures, adding a layer of political complexity to the current narrative surrounding Trump’s recollections.

The juxtaposition of Trump’s strong denial of knowing Zhao with his executive act of clemency, coupled with the business ties between their respective enterprises, presents a curious political dynamic. As the cryptocurrency landscape continues to evolve and political campaigns intensify, the implications of such statements and actions remain a subject of significant public and media interest.

Source: The Guardian