The crypto and political worlds collided again after U.S. President Donald Trump claimed he doesn’t know Changpeng Zhao, the Binance founder he pardoned just a few days ago. The surprising statement came during his November 2, 2025, interview on CBS’s 60 Minutes, leaving both critics and crypto enthusiasts in disbelief, as many called him a liar.
During the interview, host Norah O’Donnell asked Trump about the controversial pardon. Zhao, widely known as “CZ,” had pleaded guilty in 2023 to charges involving willful violations of U.S. anti-money laundering laws.
As part of a $4.3 billion settlement with the U.S. government, Zhao resigned as CEO of Binance and served a four-month prison sentence.
O’Donnell asked why he pardoned him, Trump responded bluntly: “I don’t know who he is.”
O’Donnell reminded Trump that Zhao’s Binance platform had facilitated a $2 billion purchase involving the Trump family’s crypto project, World Liberty Financial, a digital venture run by his sons, Donald Jr. and Eric Trump.
Trump brushed off the link, saying, “My sons are into it, and I’m glad they are because crypto is a great industry. They’re running a business, not in government.”
The pardon, issued on October 23, 2025, has already drawn scrutiny due to its timing and financial backdrop. Reports suggest UAE-based funds used Binance to buy shares in the Trump-linked crypto firm shortly before the pardon was announced.
This overlap has prompted Democrats like Senators Elizabeth Warren and Adam Schiff to call for investigations into possible foreign influence and misuse of presidential power.
However, White House Press Secretary Karoline Leavitt said the pardon came after a “thorough review” of Zhao’s case.
Following the interview, political analysts and crypto commentators erupted online, pointing out the contradiction in Trump’s remarks. Many questioned how he could pardon someone he “doesn’t know,” especially one allegedly involved in a business connected to his own family.
Critics described the episode as “layers of lies and chaos,” while others said it perfectly reflected the messy intersection between crypto, politics, and power.
Trump said the pardon followed a full review, though critics suspect political and financial motives tied to his family’s crypto ventures.
Yes. In a 60 Minutes interview, Trump claimed he doesn’t know Zhao, despite pardoning him and his family’s crypto ties to Binance.
The timing raised questions after reports showed UAE funds used Binance to invest in Trump’s family crypto project before the pardon.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The Ethereum price keeps falling, despite supply on Binance keeps shrinking. Normally, declining exchange reserves…
Today, the MYX price didn’t just dip; it showed a brutal long squeeze that triggered…
Vitalik Buterin, co-founder of Ethereum, has weighed in on a growing debate within the crypto…
Comments from David Schwartz, chief technology officer at Ripple, have reignited debate over whether Bitcoin…
Institutional capital flows in the cryptocurrency market are beginning to show signs of diversification beyond…
As the crypto market churns toward its next big breakout, investors are scanning for the…
