Key Notes
- President Trump admitted that he had learned that Changpeng Zhao was the victim of a “witch hunt” under the previous administration.
- Seven Democratic senators, led by Elizabeth Warren, sent a letter to the DOJ and Treasury questioning the pardon.
- The US President emphasized that his sons’ business ventures are separate from government affairs.
In a major revelation, US President Donald Trump has distanced himself from knowing Binance founder Changpeng Zhao (CZ). His comments come within a week of the Trump administration granting CZ a pardon in the Binance lawsuit case.
Donald Trump Says He Doesn’t Know Changpeng Zhao
During an interview on CBS News’ 60 Minutes aired on Nov. 2, US President Donald Trump was questioned about his decision to pardon Binance co-founder Changpeng Zhao (CZ).
Host Norah O’Donnell asked Trump why he granted the pardon despite prosecutors claiming Zhao had caused “significant harm to US national security.”
“Okay, are you ready? I don’t know who he is,” Trump responded. He added that he did not recall ever meeting Zhao and had “no idea who he is.” President Trump further explained that he was told Zhao had been the target of a “witch hunt” under former President Joe Biden’s administration.
At the time of the pardon, White House Press Secretary Karoline Leavitt defended the decision. She described Zhao’s prosecution under the Biden administration as part of a broader “war on cryptocurrency.” Besides, Leavitt also dismissed criticism that the pardon was influenced by President Trump’s personal financial interests.
Following Changpeng Zhao’s pardon last week, seven Democratic senators sent an open letter on Oct. 28 to Attorney General Pam Bondi and Treasury Secretary Scott Bessent. They raised concerns over President Trump’s October 23 pardon of Binance founder Changpeng “CZ” Zhao.
Led by Senator Elizabeth Warren, the lawmakers argued that the pardon undermines federal law enforcement efforts and may have been influenced by reported financial connections between Binance and the Trump family’s crypto venture. Lawmakers have set a Nov. 4 deadline for the Department of Justice and the Treasury Department for an explanation of how Zhao’s pardon affects federal law enforcement operations.
US President on Trump Family Crypto Ventures
During the CBS interview, President Trump dismissed concerns over potential conflicts of interest. He stressed that his priority is keeping the United States “number one in crypto.” Furthermore, Trump explained that his sons’ business ventures were entirely separate from government affairs.
“My sons are into it. I’m glad they are,” Trump said. “They’re running a business, they’re not in government.”
Trump also reiterated his support for the cryptocurrency industry, stating that the US must maintain its leadership in the sector to prevent China and other global rivals from gaining a lead.
Even before CZ, the Trump administration previously suspended a fraud investigation into crypto entrepreneur Justin Sun following his investments in the Trump family’s digital asset venture, World Liberty Financial.
Besides, President Trump has also issued pardons to the founders of cryptocurrency exchange BitMEX, who faced money laundering charges, as well as Ross Ulbricht, the founder of Silk Road, a dark web marketplace.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Source: https://www.coinspeaker.com/dont-know-who-he-is-trump-cz-recent-pardon/