In a surprising twist that’s sending shockwaves across both political and crypto circles, U.S. President Donald Trump claimed he has “no idea who Changpeng Zhao (CZ) is” — despite personally granting the Binance founder a presidential pardon just last month.
During an exclusive CBS News 60 Minutes interview aired Sunday, Trump appeared unfazed when asked why he chose to pardon Zhao, the billionaire founder of Binance who pleaded guilty in 2023 to enabling large-scale money laundering.
“Okay, are you ready? I don’t know who he is,” Trump said bluntly, adding that he had only been told Zhao was a “victim of a Biden witch hunt.”
The remarks have sparked a media frenzy — mainly because Zhao’s companies have deep connections to Trump-linked ventures, including Dominari Holdings, based in Trump Tower and boasting Trump’s sons on its advisory board.
Zhao, often called the “Crypto King”, served four months in prison before stepping down as Binance CEO. Prosecutors had accused him of causing “significant harm to U.S. national security” by allowing criminals to launder billions through his exchange.
Despite the controversy, Trump’s pardon completely removed restrictions that prevented Zhao from running financial operations. However, experts say it remains uncertain whether the pardon will restore his full legal standing with U.S. regulators.
White House Press Secretary Karoline Leavitt defended the decision, calling Zhao’s case part of the Biden administration’s “war on cryptocurrency.”
“This was an overreach by the previous administration,” Leavitt said. “President Trump simply corrected that injustice.”
The move is being viewed by analysts as part of Trump’s pro-crypto strategy — aimed at positioning the U.S. as a global leader in blockchain innovation while appealing to younger, tech-savvy voters ahead of the next election.
Trump, who has increasingly voiced support for cryptocurrencies, emphasized during the interview that America must dominate the digital economy or risk letting China take the lead.
Interestingly, Trump’s connections to the crypto world run deeper. His own family firm, World Liberty Financial, recently launched a stablecoin adopted by an Abu Dhabi company for a $2 billion investment in Binance.
Trump has also previously pardoned BitMEX founders and Ross Ulbricht, the controversial creator of Silk Road — a dark web marketplace linked to illegal drug trade.
As the world’s largest crypto exchange, Binance continues to dominate digital asset trading despite regulatory challenges. But with Trump’s bold pardon and his recent comments, one thing is clear — the fusion of politics and crypto has officially gone mainstream.