In a recent interview with 60 Minutes, US President Donald Trump defended his decision to pardon Binance founder and former CEO Changpeng 'CZ' Zhao, who pleaded guilty in 2023 to violating anti-money laundering laws. Trump stated, 'I don't know who he is,' and claimed the prosecution was a 'Biden witch hunt,' while distancing himself from any personal connection to Zhao.
The pardon has sparked accusations of 'pay-to-play' from critics, including Senators Elizabeth Warren and Chris Murphy, due to Binance's involvement with World Liberty Financial (WLF), a cryptocurrency venture linked to Trump's family. Binance co-wrote the code for WLF's USD1 stablecoin and supported its launch, and a UAE-backed investment firm, MGX, made a $2 billion investment into Binance via the stablecoin, boosting its market capitalization.
When pressed about the appearance of corruption, Trump asserted he knew 'nothing about it' and was 'too busy' with other matters, adding that his sons' involvement in WLF was separate from government affairs. He emphasized his goal to make the US 'number one in crypto' amid global competition, reflecting a broader shift in his stance from previously calling Bitcoin a 'scam' to now fully embracing the industry.
Democrats have called for congressional reviews and tighter ethics rules, with a resolution led by Senators Warren and Adam Schiff questioning the pardon's propriety. The interview, Trump's first with 60 Minutes in five years, also covered topics like the government shutdown and foreign policy, but the crypto-related segment has drawn significant scrutiny.
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