Trump Says He Has ‘No Idea’ Who Pardoned Crypto Tycoon

Trump was asked about the pardon during an interview on CBS News' 60 Minutes program, which aired Sunday.

Zhao, also known as "CZ," pleaded guilty to aiding money laundering and is exonerated in 2023. He served four months in prison and agreed to step down as CEO of Binance, the crypto exchange he co-founded.

His companies have partnered on new digital-currency projects with companies linked to Trump, including Dominari Holdings, where his son sits on the advisory board and which is headquartered in Trump Tower.

60 Minutes host Norah O'Donnell asked Trump why he pardoned Zhao, despite government prosecutors saying he had "caused significant harm to US national security."

 "Well, are you ready? I don't know who he is," the president said. 

Trump further stated that he did not recall meeting Zhao and had "no idea who he was," only that he had been told the businessman was a victim of "espionage" by former US President Joe Biden's administration.

During the interview, Trump also discussed his support for cryptocurrency and said the US must ensure it remains a leader in this industry, or risk China and its rivals gaining an edge in this emerging technology.

The presidential pardon lifts restrictions that prevented Zhao from operating financial ventures, but it is unclear whether this will change his standing with US regulators or his role at Binance.

At the time of the pardon, White House Press Secretary Carolyn Levitt described Zhao's prosecution as part of the "war on cryptocurrency" under the Biden administration, responding to critics who said the pardon appeared motivated by Trump's personal financial interests.

She stated, "This case was excessively prosecuted by the Biden administration," and added that the case has been "thoroughly reviewed." "Therefore, the President wishes to correct this unjustified overreach by the Biden administration and has exercised his constitutional authority to do so." 

Binance remains the world's most widely used crypto exchange for trading digital assets.

The Trump administration previously halted a fraud case against crypto entrepreneur Justin Sun because he had invested in the Trump family's crypto firm, World Liberty Financial.

In May, it was announced that a stablecoin launched by World Liberty Financial would be used to fund a $2 billion (£1.52 billion) investment in Binance by an Abu Dhabi firm.

Trump also pardoned the founders of crypto exchange BitMEX, who faced money laundering charges, and Ross Ulbricht, the founder of Silk Road, a dark web marketplace known for drug trafficking.