Trump admits he does not know who Changpeng Zhao is after pardoning him

In a recent interview, President Donald Trump admitted to not knowing who Binance founder Changpeng Zhao was before he pardoned him last month.

According to a BBC News article, President Donald Trump sat down to talk about his decision to pardon Binance founder and former CEO Changpeng Zhao on CBS News’ 60 Minutes programme. During the interview, when he was asked about the underlying reason why he decided to pardon Zhao, he had an interesting response.

“Okay, are you ready? I don’t know who he is,” said Trump in the interview.

He told the media that he did not recall ever meeting Zhao and frankly had “no idea who he is.” However, he was informed by others in his administration that the crypto multi-billionaire was wrongfully accused and punished during a “witch hunt” under the Biden administration, which was known for upholding an anti-crypto stance.

Trump also reinforced his position in supporting the crypto industry in the United States. More specifically, he aimed to turn the U.S into the crypto capital of the world before China or other rival countries beat them to the punch.

On Oct. 23, a White House official confirmed that the President had pardoned Changpeng Zhao, a year after he was released from prison. Zhao was charged and found guilty of money laundering charges which resulted in a four-month sentence spent in prison.

At the time, White House Press Secretary Karoline Leavitt said that Changpeng “CZ” Zhao’s prosecution under the previous Biden administration was part of what she described as a broader, politically driven “war on cryptocurrency.”

Leavitt argued that Zhao had been unfairly targeted amid an administration-wide crackdown on the digital asset industry, suggesting that the case symbolized a deeper hostility toward innovation and financial freedom within the crypto sector during Biden’s term.

As part of the deal, Zhao had agreed to step down from his position as Binance CEO and agreed to pay a $4.3 billion settlement.

The President’s decision to pardon Changpeng Zhao becomes the latest in a series of pardons involving key figures in the crypto space. Previously, Trump also pardoned founders of the crypto exchange BitMEX who faced charges related to money laundering, as well as Silk Road founder Ross Ulbricht.

How did the public react to Trump’s pardon?

The President’s pardon sparked renewed speculation of whether CZ would return to Binance in the coming months, considering he is now free to return if he so wishes. After news of the pardon broke, a Polymarket prediction market betting on whether CZ will return to Binance by December 31 spiked in trading volume.

Around 68% of traders had voted on YES regarding the possibility of Zhao returning to Binance, despite Zhao previously claiming he had no interest in returning to the exchange as a CEO. However, enthusiasm has since waned and the portion of people betting on his return to Binance has dwindled down to just 11%.

Although, not everyone is happy about Trump’s decision to pardon the former Binance CEO. On Oct. 29, a group of U.S Senate Democrats, led by Senator Elizabeth Warren, demanded a federal probe into CZ’s pardon. They claimed that the act of granting a pardon despite Zhao’s guilty plea in a high-profile money laundering case could embolden more white-collar crimes in the crypto space.

Not only that, the senators also accused Trump of having financial ties to Changpeng Zhao, citing Zhao’s 90% ownership of Binance, his meetings with Trump associates, and Binance’s alleged involvement in developing the USD1 stablecoin for Trump’s crypto firm, World Liberty Financial. As a result, they argued that the connection may have played a role in influencing Trump’s decision.