President Trump says he still doesn’t know who Binance founder and former CEO Changpeng Zhao is, despite having pardoned Zhao last month. CBS correspondent Norah O’Donnell asked Trump about the pardon in a 60 Minutes interview that aired yesterday, noting that Zhao pleaded guilty to violating anti-money laundering laws. “The government at the time said that C.Z. had caused ‘significant harm to US national security,’ essentially by allowing terrorist groups like Hamas to move millions of dollars around. Why did you pardon him?” O’Donnell asked. “Okay, are you ready? I don’t know who he is. I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt,” answered Trump, who has criticized his predecessor for signing pardons with an autopen. Zhao was charged with failing to maintain an adequate anti-money laundering program as required by the Bank Secrecy Act and pleaded guilty. He was sentenced to four months in prison in April 2024, and released in September 2024. The US government’s sentencing request asked for three years in prison. Trump family wheeling and dealing Trump pardoned Zhao on October 21 in a move that is likely to help Binance fully return to the US market. (Since 2019, Binance has operated a separate exchange for US customers.) Months before the pardon, the Trump family reportedly held talks with Binance about taking a financial stake in the crypto exchange’s US arm. Binance facilitated a $2 billion purchase of the USD1 stablecoin offered by the Trump-backed World Liberty Financial and built the technology behind USD1, a Wall Street Journal report last week said. Trump sons Eric and Donald Jr. have played a leading role in making lucrative crypto deals for the Trump family business.
Continue reading the complete article on the original source
