Michaela
White House Press Secretary Karoline Leavitt has said the pardon of Binance founder Changpeng “CZ” Zhao was subject to a full review under established procedures before being presented to President Donald Trump for authorization.
Key Points
- Key points:
- The White House confirmed that Binance CEO Changpeng Zhao’s pardon underwent a full review process involving the DOJ and White House Counsel before President Trump authorized it
- President Trump maintains he does not personally know Zhao, describing his legal troubles as a “Biden witch hunt” and dismissing claims linking the pardon to a $2 billion stablecoin deal
Key points:
- The White House confirmed that Binance CEO Changpeng Zhao’s pardon underwent a full review process involving the DOJ and White House Counsel before President Trump authorized it.
- President Trump maintains he does not personally know Zhao, describing his legal troubles as a “Biden witch hunt” and dismissing claims linking the pardon to a $2 billion stablecoin deal.
- The pardon is framed by the Trump administration as correcting past overreach, targeting cases of perceived over-prosecution and signaling a softer stance on the crypto industry.
During a White House press briefing, Press Secretary Karoline Leavitt addressed questions about President Trump’s comments on CBS News’ 60 Minutes, where he claimed to have “no idea” who Zhao is. Leavitt reaffirmed that the president does not personally know the Binance founder.
“He means he does not have a personal relationship with this individual. And when it comes to pardons, the White House takes them with the utmost seriousness, and the President understands the responsibility that he has as President to issue clemency and issue pardons to individuals who are seeking that,” Leavitt stated.
In a Sunday interview with CBS News’ 60 Minutes, President Trump said he does not personally know the Binance founder, characterizing Zhao’s legal challenges as a “Biden witch hunt.” When asked about reports linking Zhao’s pardon to a $2 billion stablecoin transaction involving World Liberty Financial, Trump dismissed the claims, saying he was unaware of the details due to his busy schedule.
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Furthermore, Leavitt explained that the White House follows a “very thorough” review process for pardon requests, coordinated between the Department of Justice (DOJ) and the White House Counsel’s Office. She noted that a team of experienced attorneys evaluates each case before it reaches President Trump, who serves as the final decision-maker.
According to Leavitt, upon taking office, President Trump expressed particular interest in reviewing cases of individuals he believed were “abused and used” by the previous administration or “over-prosecuted by a weaponized DOJ,” citing Zhao as one such example.
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In 2023, Zhao pleaded guilty to violating the Bank Secrecy Act by failing to maintain an effective anti-money laundering program at Binance. U.S. prosecutors had sought a three-year prison term, but the judge deemed it excessive and instead sentenced Zhao to four months, which he served before being released in September 2024.
Additionally, Leavitt stated that President Trump’s pardon of the Binance founder is intended to rectify what his administration views as past overreach, effectively signaling an end to what they characterize as the Biden administration’s aggressive stance toward the cryptocurrency industry.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
