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Binance co-founder Changpeng Zhao, aka CZ, says he was shocked by Donald Trump’s pardon and denied it was a results of enterprise ties with the President or his household.
In an interview with Fox Information, Zhao stated that he has by no means met with Trump and that he has solely met Trump’s son, Eric, as soon as on the Bitcoin Center East and North Africa convention in Abu Dhabi.
Zhao Was Unaware Of The Standing Of His Pardon
“I didn’t know when or if it was going to occur,” he stated of the pardon. “I consider my attorneys submitted the petition in April, and it took a couple of months. I didn’t know the progress.”
The pardon simply “occurred someday,” he stated, calling the notion he was pardoned due to enterprise hyperlinks with the Trump household ”categorically false data.”
”There’s no deal, there has by no means been any discussions,” Zhao added. ”It’s so simple as that.”
Trump’s CZ Pardon Had Blended Reactions
Zhao pleaded responsible to violating the Financial institution Secrecy Act by failing to keep up an efficient anti-money laundering (AML) program at Binance.
As a part of a plea deal, Zhao needed to step down from his function as Binance’s CEO and was sentenced to 4 months in jail.
Deeply grateful for at present’s pardon and to President Trump for upholding America’s dedication to equity, innovation, and justice.
🙏🙏🙏🙏Will do all the things we will to assist make America the Capital of Crypto and advance web3 worldwide.
(Nonetheless in flight, extra posts to come back.)…
— CZ 🔶 BNB (@cz_binance) October 23, 2025
Whereas the crypto group celebrated Zhao’s pardon and noticed it as a reversal of the anti-crypto insurance policies of the previous Joe Biden administration, some Democratic lawmakers criticized it.
Maxine Waters accused Trump of coming into right into a “pay-to-play” settlement. It sends a ”harmful and reckless message to white-collar criminals and the complete cryptocurrency trade” she stated.
”It’s telling crypto criminals that they will break the regulation, defraud buyers, and get away with it, so long as they’re additionally Trump’s benefactors,” she added.
In the meantime, Senator Elizabeth Warren and a number of other different democratic lawmakers slammed the pardon in an open letter they penned to legal professional basic Pam Bondi.
Open letter penned to Bondi (Supply: US Senate)
White Home Known as ’24/7 Corruption Machine’
Senator Chris Murphy accused the White Home of corruption.
“One week after Trump pardoned Binance’s proprietor (for a surprising array of crimes associated to terrorist and intercourse predator financing), Binance begins selling Trump crypto,” Murphy stated on X. ”The White Home is a full time, 24/7 corruption machine.”
The remarks got here after Binance.US introduced it will open deposits for USD1, a dollar-pegged stablecoin issued by the Trump household’s World Liberty Monetary, and started buying and selling a USD1/USDT pair.
Binance.US denied any political motive, saying the listings have been “accredited for a while” by means of its typical overview course of. It added that greater than twenty main exchanges, together with Coinbase and Bybit, have additionally listed the tokens.
”To be clear, this was a enterprise choice on the a part of @BinanceUS and nothing extra,” it stated.
Trump Mentioned Zhao Sufferer Of A “Biden Witch Hunt”
Following the pardon, Trump stated that he doesn’t know Zhao personally and that his advisors had advised him that the case in opposition to Zhao was politically motivated.
“He had a whole lot of help, they usually stated that what he did just isn’t even against the law, it wasn’t against the law,” Trump stated. ”He was persecuted by the Biden administration.”
Trump additionally appeared on the CBS present 60 Minutes and stated he doesn’t know who who CZ is.
Trump added that Zhao was focused in a “witch hunt” carried out by the Biden administration.
Requested whether or not the pardon was “pay to play” given Binance’s enterprise interactions with household’s World Liberty Monetary, Trump responded that he is aware of “little or no about it,” including that his sons are extra concerned within the crypto area than he’s.
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