Trump Claims He Doesn’t Know Disgraced Crypto Tycoon CZ, After Pardoning Him

President Donald Trump has denied knowing Changpeng Zhao, the crypto magnate he pardoned just weeks ago, telling CBS’s 60 Minutes that he has no idea who he is.

The former Binance CEO pleaded guilty in 2023 to violations of U.S. anti–money laundering laws, serving four months in prison and stepping down from his leadership role at the company he co-founded.

His business network has since developed ties to ventures associated with Trump, including Dominari Holdings, a digital currency initiative headquartered in Trump Tower. Members of Trump’s family reportedly sit on its advisory board.

When pressed about the pardon, Trump responded dismissively. “Okay, are you ready? I do not know him,” he said. The president maintained that he had never met Zhao, insisting his understanding of the case came from advisers who described Zhao as the target of a “witch hunt” by the Biden administration.

Trump used part of the interview to reiterate his support for crypto innovation, arguing that the United States must remain competitive in the rapidly growing sector. He warned that if the country fails to lead in the field, rivals such as China could take control of emerging financial technologies.

The pardon removes earlier restrictions that had barred CZ from overseeing financial operations. It remains uncertain, however, how the move will affect his regulatory status or potential role within Binance, which continues to dominate global crypto trading.

Following the announcement of the pardon, Karoline Leavitt, the White House Press Secretary, defended the decision, saying CZ’s prosecution reflected what she called the Biden administration’s war on crypto. She described the earlier charges as excessive and said the president acted to correct what he viewed as a miscarriage of justice after a full review of the case.

Binance remains the world’s most active exchange for digital assets.

The move has drawn comparisons to earlier interventions by Trump in crypto-related cases. His administration previously ended a fraud investigation into Justin Sun after he invested in the Trump family’s digital-asset company, World Liberty Financial (WFL). The firm’s stablecoin was later chosen by an Abu Dhabi investment group for a $2 billion partnership with Binance.

Trump has also granted clemency to the founders of BitMEX, another crypto exchange previously accused of money laundering violations, as well as to Ross Ulbricht, creator of the Silk Road marketplace, once notorious for online drug sales.

Crypto firms like Bit Digital Inc. (NASDAQ: BTBT) will be hoping that the motivation behind president’s decisions regarding digital assets don’t cross any ethical lines since the resulting bad press could take the industry several steps back at a time when needed progress on the regulatory front is starting to materialize.

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