‘I don’t know who he is’, says Trump after pardoning crypto tycoon
US President Donald Trump said he did not know who Changpeng Zhao was, despite pardoning the cryptocurrency multibillionaire last month.
Trump was asked about the pardon during an interview on CBS News’ 60 Minutes, which aired Sunday.
Zhao, also known as “CZ”, pleaded guilty in 2023 to charges of enabling money laundering. He served four months in prison and agreed to resign as CEO of Binance, the crypto exchange he co-founded.
His companies have partnered with Trump-linked firms on new digital currency projects, including Dominari Holdings, which has his sons on its board of advisors and is headquartered in Trump Tower.
60 Minutes host Norah O’Donnell asked Trump why he pardoned Zhao even though government prosecutors said he caused “serious harm to U.S. national security.”
“Okay, are you ready? I don’t know who that is,” the president said.
Trump added that he did not remember meeting Zhao and had “no idea who he was”, only that he was told the businessman was the victim of a “witch hunt” by former US president Joe Biden’s administration.
During the interview, Trump also discussed his support for cryptocurrencies, saying the United States must ensure it is a leader in the industry or risk China and its rivals gaining an advantage in the emerging technology.
CBS News is the BBC’s news partner in the United States.
The president’s pardon removes restrictions that prevented Zhao from engaging in financial ventures, but it is unclear whether this changes his standing with U.S. regulators or his role at Binance.
At the time of the pardon, White House Press Secretary Karoline Leavitt called Zhao’s investigation under the Biden administration part of the “war on cryptocurrency” and pushed back against critics who said the pardon was motivated by Trump’s personal financial interests.
“This was a case that was heavily investigated by the Biden administration,” he said, adding that the case was “fully reviewed.” “So the president wants to correct this extreme injustice of the Biden administration and has used his constitutional authority to do so.”
The Binance platform remains the most used crypto exchange in the world for trading digital assets.
The Trump administration had previously halted a fraud lawsuit against crypto entrepreneur Justin Sun following his investments in the Trump family’s crypto company World Liberty Financial.
In May, it was announced that a stablecoin launched by World Liberty Financial would be used by an Abu Dhabi firm to invest $2bn (£1.52bn) in Binance.
Trump also pardoned the founders of crypto exchange BitMEX, who faced charges related to money laundering, and Ross Ulbricht, the founder of dark web marketplace Silk Road, known as a hotspot for drug dealing.
