Crypto founder pardoned by Trump denies any connection to Trump family
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The convicted founder of Binance, the world’s largest crypto exchange, said he was “a little surprised” by President Donald Trump’s pardon of him on “Special Report” on Friday.
“We have never met,” former Binance CEO Changpeng “CZ” Zhao told “Special Report” host Bret Baier in an exclusive interview. “We never talked.”
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In 2023, Zhao pleaded guilty to a charge of money laundering. He was sentenced to four months in prison under Biden. President Donald Trump pardoned him on October 21, according to the report. Ministry of Justice.
White House press secretary Karoline Leavitt called Trump’s pardon “officially the end”[ing] Biden administration’s war on the cryptocurrency industry.”
Changpeng Zhao, former CEO of Binance, speaks at the Delta Summit, Malta’s official Blockchain and Digital Innovation event promoting cryptocurrencies, held in St Julian’s, Malta, on October 4, 2018. REUTERS/Darrin Zammit Lupi (Reuters)
On Sunday, Trump said in a “60 Minutes” interview that he did not know Zhao.
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The cryptocurrency founder similarly denied having ties to the Trump family, although The Wall Street Journal attributed Zhao’s pardon to Binance’s alleged “deal” with the Trumps’ cryptocurrency project World Liberty Financial.
“This is absolutely not true,” Zhao said in “Special Report.” “There was no agreement, no discussion. It’s that simple.”
However, Zhao said he met American Bitcoin co-founder and Trump’s son Eric Trump at the Bitcoin MENA conference in Abu Dhabi.
Eric Trump, co-founder and chief strategy officer of American Bitcoin Corp., during a Bloomberg Television interview on September 17, 2025 in New York, USA. (Kena Betancur/Bloomberg via Getty Images)
Zhao denied any business dealings with Trump’s sons, calling the WSJ’s reporting “categorically false.”
He also explained why he pleaded guilty to violations of the Bank Secrecy Act, which included failing to properly implement an effective anti-money laundering program.
“I think this is the best way to confront the problem and address it head-on,” he said, later adding: “I have nothing to discuss regarding the accusations.”
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Zhao cited Trump’s GENIUS Act, which defines federal regulations for cryptocurrency, as a sign that the US is a “leader” in crypto rules.
President Donald Trump during the signing ceremony of the GENIUS Act in the East Room of the White House in Washington, DC, on July 18, 2025. (Al Drago/Bloomberg via Getty Images)
“The more clarity we have in the industry, the better,” Zhao argued.
“I think in the last administration, even when I was indicted and pleaded guilty, there wasn’t a clear regulatory framework for crypto in the US, so I think it’s become clearer now and the US is definitely the leader,” he added.
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The Wall Street Journal responded to Zhao’s comments with a “Special Report” statement: “We stand by our reporting.” Both Fox News and The Wall Street Journal are owned by News Corp.
