Trump, 79, Admits Unaware of Pardoned Billionaire Changpeng ‘CZ’ Zhao
Former President Donald Trump recently revealed his unfamiliarity with Changpeng “CZ” Zhao, the billionaire crypto founder he pardoned. During an interview on CBS’s 60 Minutes, Trump disclosed that he did not recall who Zhao was, despite having granted him clemency.
Details of the Pardoned Billionaire
Changpeng Zhao, 48, is a Canadian citizen originally from China. He previously served four months in prison after pleading guilty to money-laundering violations in 2023. His offenses were linked to facilitating criminal financial activities involving drug trafficking and child exploitation.
Trump’s Comments on the Pardon
Trump’s comments came after Norah O’Donnell questioned him about the controversial pardon, which took place in September 2024. When asked why he granted clemency, Trump stated, “I don’t know who he is.” He also commented on Zhao’s sentence, describing it as a “witch hunt” orchestrated by the Biden administration.
Trump highlighted that his sons, Eric and Don Jr., are involved in the crypto industry through their company, World Liberty Financial. This firm had previously established a multibillion-dollar partnership with Binance, Zhao’s crypto exchange.
Background on World Liberty Financial
World Liberty Financial was formed by Trump’s sons alongside Steve Witkoff’s sons. The company is a significant player in the cryptocurrency market and benefited from its association with Binance. The partnership reportedly boosted World Liberty’s valuation from $127 million to over $2.1 billion.
Reactions and Controversy
The pardon has ignited criticism, particularly from Trump’s supporters. Critics have raised concerns about potential corruption and the appearance of “pay for play.” Trump himself seemed evasive when asked about this perception, expressing discomfort with the question.
During the 60 Minutes interview, Trump repeatedly insisted he had limited knowledge of Zhao and the pardon itself. He mentioned hearing recommendations for Zhao’s pardon, claiming they suggested that his actions did not constitute a crime.
Zhao’s case has drawn attention not just for the felony but also for the financial dealings linking his company to Trump’s family business, raising the stakes around discussions of ethics and influence in politics.
Conclusion
The complex ties between Trump’s family and the blockchain industry, exemplified by the pardoning of Changpeng “CZ” Zhao, continue to stir public debate. As this story unfolds, it raises significant questions about governance, business, and the intertwining of personal and political interests in contemporary America.
