Pardon Process and Presidential Statement
The proposed pardon for Changpeng Zhao, founder and former CEO of Binance, underwent the usual scrutiny before being put forward to President Donald Trump. During a press briefing, White House spokesperson Karoline Leavitt noted that both the Department of Justice and the White House Office of Legal Counsel meticulously evaluated the pardon before it reached the president’s desk. Although President Trump mentioned in a CBS News interview that he didn’t have any personal acquaintance with Zhao, he described the case as an example of the Biden administration’s witch hunt.
Clarification on Trump's Remarks
Leavitt clarified that President Trump’s remarks were taken out of context. She explained that while Trump admitted unfamiliarity with Zhao, this should not undermine the seriousness of the pardon review process.
“Qualified legal experts from the Department of Justice and the White House Office of Legal Counsel meticulously review every pardon request that reaches the president,” she stated.
Leavitt went on to highlight the perceived undue legal pressure Zhao experienced, echoing accusations that the Department of Justice was influenced by political considerations. Trump had remarked, “I don’t know who he is. I think he had a four-month sentence. I heard it’s part of Biden’s witch hunt.”
Background of Zhao's Legal Issues and Investment Interest
Trump issued a pardon to Zhao last month, who was convicted in 2023 for not establishing a robust anti-money laundering system. Zhao spent four months in custody and was freed in September 2024. Reports from the Wall Street Journal noted that World Liberty Financial, close to Trump, aimed to buy shares in Binance.US, though this was dismissed as politically charged claims.
Reports from Reuters revealed that MGX, based out of Abu Dhabi, had announced its intention to employ World Liberty’s USD1 stablecoin for a $2 billion investment in Binance. Binance’s CEO, Richard Teng, confirmed that Binance was not involved in that decision.
Key Takeaways from the Legal Saga
Key conclusions from this unfolding legal saga include:
- •The pardon was processed through regular legal channels.
- •Political motivations alleged behind Zhao’s prosecution.
- •Plans involving Binance attract global investment interests.
The intrigue surrounding Changpeng Zhao’s pardon, coupled with its political implications, continues to spark debate regarding judicial and presidential procedures in the United States.