Trump Defends CZ Pardon, Claims ‘I Don’t Even Know Him’ Amid $2B Binance Controversy
U.S. President Donald Trump has once again defended his decision to pardon Binance co-founder Changpeng “CZ” Zhao, saying he doesn’t personally know the crypto billionaire and rejecting claims that his move was politically motivated.
In a recent CBS 60 Minutes interview, Trump doubled down on his stance:
“I don’t know who he is. I heard it was a Biden witch hunt,” Trump said, referring to the 2023 money laundering case that led to CZ’s conviction.
The controversy reignited after reports emerged that Binance helped facilitate a $2 billion stablecoin deal tied to Trump’s World Liberty Financial (WLFI) platform just before the pardon.
When pressed about the connection, Trump shrugged off the allegations:
“I know nothing about it — I’m too busy doing other things,” he told CBS anchor Norah O’Donnell.
Addressing potential conflicts of interest, Trump clarified that his sons — not him — are involved in the crypto space.
“My sons are into it, and I’m glad they are,” Trump said. “It’s a great industry. They’re running a business; they’re not in government. I’m proud of them.”
He insisted that his only concern is to “make crypto great for America.”
Trump praised the cryptocurrency sector as a key driver of innovation, warning that overregulation could harm the U.S. lead in digital finance.
“Crypto has become a massive industry,” Trump said. “We’re ahead of China right now, but if you go after people, you’ll kill the industry — and that would be very bad.”
CZ, who stepped down as Binance CEO in 2023 after pleading guilty to money laundering violations, was later pardoned by Trump in October.
The move drew backlash from lawmakers, who viewed it as favoritism toward a controversial figure in the crypto world.
Trump’s remarks have sparked mixed reactions within the crypto community. While some praised him for supporting digital innovation and standing against what he called the “weaponization” of the justice system, others criticized the move as a double standard for high-profile figures in crypto.
Industry analysts pointed out that Trump’s consistent push for “making crypto great for America” could appeal to the growing number of Web3 entrepreneurs and Bitcoin supporters ahead of the 2025 elections.
Crypto influencer and trader Scott Melker commented on X (formerly Twitter):
“Trump is playing the long game — crypto voters matter more than ever before.”
However, critics argue that the CZ pardon sends the wrong message, undermining regulatory efforts to hold major exchanges accountable for money laundering and compliance breaches.
Reports suggesting Binance’s involvement in a $2 billion stablecoin deal connected to World Liberty Financial (WLFI) — a Trump-affiliated crypto venture — have drawn further scrutiny.
While there’s no official confirmation of direct involvement between Trump and Binance, analysts believe the timing of the pardon and the deal has raised eyebrows among regulators.
A senior official from the U.S. Treasury reportedly stated that the department is “monitoring potential conflicts of interest” related to the WLFI platform.
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