United States President Donald Trump has said he does not know Changpeng Zhao, the billionaire founder of Binance, despite granting him a presidential pardon last month.
Zhao, widely known as CZ, had pleaded guilty in 2023 to money-laundering violations and resigned as Binance’s chief executive. He later served four months in prison following a plea deal with US prosecutors.
When asked why he pardoned Zhao, Trump said, “Okay, are you ready? I don’t know who he is. I have no idea who he is.” He added that he was informed Zhao had been unfairly targeted in what he called a “witch hunt” by the previous Biden administration.
The pardon has lifted restrictions that previously stopped Zhao from managing financial ventures, though it is not yet clear whether it restores his regulatory standing or position at Binance, the world’s largest crypto exchange.
White House Press Secretary Karoline Leavitt defended the president’s decision, saying Zhao’s prosecution was part of a “war on cryptocurrency” under Biden. “This was an overly prosecuted case,” she said. “The president acted within his constitutional powers to correct the overreach.”
Trump also reaffirmed his support for cryptocurrency, saying the United States must remain a global leader in digital innovation or risk falling behind countries like China.
Zhao’s companies have recently partnered with firms connected to Trump on several crypto projects, including Dominari Holdings, where Trump’s sons serve on the advisory board.
The move has renewed questions about Trump’s ties to major crypto figures. His administration had earlier dropped a fraud case against entrepreneur Justin Sun, a major investor in the Trump family’s crypto venture, World Liberty Financial, and granted pardons to BitMEX founders and Silk Road creator Ross Ulbricht.
