Trump on Crypto Tycoon Pardoned: 'I'm Unfamiliar with Him'

During an interview on 60 Minutes, President Trump conveyed his lack of familiarity with a prominent figure in cryptocurrency whom he had granted clemency.

Last month, President Trump issued a pardon for Changpeng Zhao, a Chinese-born Canadian who founded Binance, a major player in the cryptocurrency exchange market. He suggested that Zhao was unfairly targeted by the Biden administration.

The President stated to Norah O'Donnell, "I have no knowledge of him. I only know he received a short sentence, and it seemed like another example of a witch hunt by Biden."

O'Donnell highlighted a significant transaction involving Binance earlier in the year, where it acquired $2 billion worth of stablecoin from World Liberty Financial. This move notably enhanced the visibility and valuation of Trump-associated business ventures.

When questioned about potential concerns of quid pro quo, Trump responded, "Frankly, I'm too occupied with other matters to know anything about it."

O'Donnell pressed further, stating, "But he received a pardon."

The President reiterated, "I can simply say, my sons are engaged with this sector, which I view as promising and innovative. It's moral; they're not holding public office."

Both Trump's sons and World Liberty Financial have distanced themselves from any link to the pardon.

Two years ago, Zhao, also known as C.Z., acknowledged his guilt in a separate legal case, resulting in a four-month incarceration and a prohibition on Binance's operations in the U.S.

At that time, authorities accused Zhao of compromising U.S. national interests by facilitating financial transactions for groups like Hamas.

Following the clemency announcement, Trump was asked to clarify his motivations and any potential connections to his family's cryptocurrency dealings.

Reflecting on the matter, Trump said, "Numerous people attested to his innocence. I don't recognize him. His actions were deemed not criminal, but he suffered persecution from the current administration, so I acted on the advice of many respectable figures."