Trump says doesn't know who CZ is
U.S. President Donald Trump says he is unfamiliar with Changpeng Zhao, even though he granted the cryptocurrency billionaire a pardon last month.
Trump was questioned about the pardon in an interview on CBS News’ 60 Minutes, which aired Sunday.
Zhao — widely known as “CZ” — pleaded guilty in 2023 to violations related to money laundering. He served a four-month sentence and resigned as CEO of Binance, the crypto exchange he helped create.
Zhao’s businesses have recently partnered with companies tied to Trump on new digital-currency ventures, including Dominari Holdings — headquartered in Trump Tower — where Trump’s sons sit on the board of advisers.
During the interview, host Norah O’Donnell pressed Trump on why he pardoned Zhao despite federal prosecutors stating that Zhao caused “significant harm to US national security.”
Trump replied: “Okay, are you ready? I don't know who he is.”
He continued that he did not remember meeting Zhao and had “no idea who he is,” saying only that he had heard Zhao was the target of a “witch hunt” by former President Joe Biden’s administration.
Trump also used the interview to reaffirm his backing of cryptocurrencies, arguing that the U.S. must be a leader in the sector or risk countries like China gaining an advantage.
The pardon removes restrictions that previously barred Zhao from running financial ventures, though it remains uncertain whether it affects his standing with regulators or his involvement with Binance.
After the pardon, White House Press Secretary Karoline Leavitt pushed back against criticism that Trump acted out of personal financial interest, saying Zhao’s prosecution under Biden was part of a “war on cryptocurrency.” She said, “This was an overly prosecuted case by the Biden administration,” adding that the case had been “thoroughly reviewed.”
“So the president wants to correct this overreach of the Biden administration's misjustice and he exercised his constitutional authority to do so.”
Binance continues to be the world’s largest cryptocurrency exchange by trading volume.