- CZ denies any connection with Trump or his family despite reports linking them politically.
- The Trump pardon of CZ sparks backlash and renewed debate on US crypto regulation.
Former Binance CEO Changpeng Zhao (CZ) has denied any connection to President Donald Trump or his family following his unexpected presidential pardon announced on October 21. The decision has drawn strong political reactions and renewed focus on cryptocurrency regulation in the United States.
During an interview on “Special Report,” Zhao said he had never met Trump before the pardon. He stated, “We have never met. We have never talked.” His statement came shortly after Trump confirmed on “60 Minutes” that he does not know Zhao personally.
The White House press secretary Karoline Leavitt described the pardon as an action that ended the previous administration’s stance against cryptocurrency platforms.
Binance CZ Refutes WSJ Report on Trump Link
Reports from the Wall Street Journal suggested a link between Zhao’s pardon and alleged cooperation involving a crypto project called World Liberty Financial, associated with Trump family members. Zhao rejected that claim during the interview and said,
That’s completely not accurate. There’s no deal, there has never been any discussions. It’s as simple as that.
However, Zhao acknowledged a single meeting with Eric Trump during a Bitcoin MENA conference in Abu Dhabi. Zhao maintained that no financial or business association resulted from that meeting and called the broader reporting “categorically false.”
The original charge against Zhao involved failure to put in place a proper anti-money-laundering program under the requirements of the Bank Secrecy Act. Zhao stated a preference to resolve legal matters promptly. Zhao said,
I do not have anything to debate on the charges.
Zhao also pointed to the GENIUS Act introduced under Trump’s administration, describing it as progress in establishing clearer rules for digital currencies. He added that previous administrations lacked structure for crypto regulation, but now the situation “is getting much clearer, and the U.S. is “definitely leading.”
Binance CEO Calls Trump Pardon a Win for Crypto
However, reaction to the pardon drew criticism from certain lawmakers. Senator Elizabeth Warren accused Binance and Trump of coordinated efforts. Warren said in a post on X,
CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stablecoin and lobbied for a pardon…he got it.
Zhao rejected the accusation and has signaled intent to pursue a defamation lawsuit against Warren, arguing her statements misrepresented legal events.
Meanwhile, Binance CEO Richard Teng said the company and wider cryptocurrency sector were “very thankful” for the pardon. According to Teng, the pardon indicated a favorable approach toward establishing the US as “global crypto capital of the world.”