Donald Trump Claims Unfamiliarity with Changpeng Zhao

Trump commented on the pardon of Binance founder Changpeng Zhao.

US President Donald Trump commented on the decision to pardon Binance founder Changpeng Zhao (CZ). He stated that he is not personally acquainted with the businessman and considers the Biden administration’s pursuit a “witch hunt.”

Trump made these remarks during an appearance on CBS News’ 60 Minutes.

He added that he had heard of CZ’s case as a persecution by a “corrupt government.”

Conflict of Interest Allegations

Journalist Norah O’Donnell asked Trump about reports suggesting that Binance facilitated the purchase of stablecoins worth $2 billion for World Liberty Financial (WLFI), a company linked to the president’s family. According to media, this deal might have preceded the pardon.

The US leader stated he knew nothing about this, citing his busy schedule.

“My sons handle that. And I’m glad because cryptocurrencies are probably a great industry. They run a business, they’re not in government. I’m proud of them,” he noted.

Technological Leadership and Industry Protection

Trump described cryptocurrencies as the “industry of the future” and emphasized that the US should take a leading role. In his view, prosecuting market participants could “kill the industry.”

The president also touched on the topic of artificial intelligence. He stated that the production and control of AI chips should remain exclusively in the US, and China should not have access to them.

Trump called this a matter of national security, convinced that losing technological leadership could weaken the dollar.

Warren vs. Zhao

Senator Elizabeth Warren’s lawyers consider Zhao’s threats of a defamation lawsuit baseless. The issue arose from the senator’s post on X about “corruption” in CZ’s pardon.

CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison.

But then he financed President Trump’s stablecoin and lobbied for a pardon.

Today, he got it.

If Congress does not stop this kind of corruption, it owns it. pic.twitter.com/NsWeaJcVeK

— Elizabeth Warren (@SenWarren) October 23, 2025

The New York Post reported that Binance founder’s lawyer, Teresa Goody Guillén, threatened Warren with a lawsuit for “defamatory statements damaging his reputation.” She demanded the post on X be removed.

In a response letter, the senator’s attorney, Ben Stafford, stated that any defamation lawsuit would be “groundless.” He emphasized that CZ “pleaded guilty to violating anti-money laundering laws.”

Stafford claims Warren’s publication “is truthful in all respects and therefore cannot be defamatory,” as it “accurately reflects publicly available and widely reported facts.”

He added that a public figure like Zhao cannot win a defamation case without proving the defendant knowingly spread false information.

Back in September 2024, CZ was released from prison. The entrepreneur served a four-month sentence on charges of money laundering and other illegal activities.

As part of an agreement with the US Department of Justice, he agreed to pay a $50 million fine and step down as CEO of the exchange.

Binance permanently barred CZ from management. However, the platform’s CEO, Richard Teng, noted that Zhao remains the largest shareholder.