Trump on Binance founder he pardoned: ‘I don’t know who he is’

ISTANBUL

US President Donald Trump said in an interview on Sunday that he does not personally know Changpeng Zhao, the billionaire founder of cryptocurrency exchange Binance, whom he recently pardoned.

“Okay, are you ready? I don’t know who he is,” Trump told CBS News’ 60 Minutes in a wide-ranging interview. “I know he got a four-month sentence or something like that, and I heard it was a Biden witch hunt.”

Zhao, known as C.Z., pleaded guilty in 2023 to failing to maintain an effective anti-money laundering program at Binance. He served four months in prison and was released in September 2024. The White House confirmed on Oct. 23 that Trump had granted him a presidential pardon.

“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House spokesperson Karoline Leavitt said in a statement. She accused the Biden administration of pursuing Zhao “despite no allegations of fraud or identifiable victims.”

Binance, once the world’s largest crypto exchange, pleaded guilty to sanctions and licensing violations in 2023 and agreed to pay more than $4 billion in penalties. It has since been banned from operating in the US, though a smaller affiliate, Binance.US, continues to function.

During the 60 Minutes interview, Trump was asked about concerns of a “pay-for-play” arrangement after reports that Binance supported World Liberty Financial, a crypto venture co-founded by his sons Donald Trump Jr. and Eric Trump.

“Well, here’s the thing. I know nothing about it because I’m too busy doing other things,” Trump said. “My sons are into it. I’m glad they are, because it’s probably a great industry — crypto. I think it’s good. You know, they’re running a business. They’re not in government.”

The World Liberty Financial describes itself as a firm that “blends traditional finance with the transparency of blockchain” to bridge “classic banking with the digital financial future.” The company was co-founded by the Trump brothers, developer Zach Witkoff — the son of longtime Trump confidant Steve Witkoff — and crypto entrepreneurs Chase Herro and Zak Folkman.

CBS News reported that World Liberty Financial denied any involvement in Zhao’s pardon.