In a recent “60 Minutes” interview, President Donald Trump claimed he did not know Changpeng Zhao (CZ), the founder of Binance, despite having pardoned him earlier this year. The comment reignited controversy over Trump’s decision to pardon Zhao, who pleaded guilty in 2023 to money-laundering violations tied to Binance’s global operations.
Conflicting Statements and Business Links
When asked about a possible conflict of interest stemming from his family’s financial ties to Binance, President Trump responded, “I don’t know who he is.” His statement contrasts with widespread media attention surrounding the case and the October 2025 pardon, which critics say benefited a business partner connected to the Trump family’s crypto venture, World Liberty Financial.
In May 2025, Binance accepted a $2 billion investment in USD1, the stablecoin issued by World Liberty Financial. Later, Bloomberg reported that Binance had helped develop the stablecoin’s underlying code, a partnership that could reportedly earn the Trump family tens of millions in annual interest. The family holds a 38% stake in World Liberty Financial’s parent company but has denied any conflict. The White House maintains that Zhao’s pardon followed a full legal review, while critics like Senator Elizabeth Warren have called it a clear case of “pay-for-play corruption.”
A Broader Crypto Push
Beyond the controversy, Trump used the interview to reaffirm his pro-crypto agenda, pledging to make the U.S. “number one in crypto.” He argued that the industry represents “a massive opportunity” and warned that China could dominate if the U.S. falls behind.
Trump said his decision to pardon Zhao came after appeals from “a lot of good people” who viewed Zhao’s prosecution under the Biden administration as politically motivated. The remarks underscore Trump’s continued alignment with the crypto industry, even as questions mount over the intersection of politics, business, and blockchain power at the highest levels of government.