"Well, I think a few things could be true, Jennings said. One, I don't doubt one bit that President Trump isn't acquainted with the finer points of the crypto industry. I believe that. No. 2, it's also true that presidents most often don't personally know the people that they're pardoning. And No. 3people dolobby administrations for pardons often. I think that's probably what happened in this case. And I think there's probably a group of advisors who heard the plea and recommended to the press."
"Reuters just reported a couple of days ago, 'The president and his family raked in more than 800 million dollars from sales of crypto assets in the first half of 2025 alone,' OK? That is literally a business that Trump is in with this guy who they just executed a pardon for. And then Trump says, 'I don't know anything about it.'"
President Donald Trump granted a pardon to former Binance CEO Changpeng Zhao, who pleaded guilty to money laundering violations in 2023. Business ties between Binance and the Trump family included lobbying activity and reported crypto asset sales exceeding $800 million in the first half of 2025. Trump publicly stated he did not know Zhao. Defenses of the pardon emphasized that presidents often lack detailed industry knowledge, typically do not personally know most pardonees, and that lobbying can influence pardon decisions. Critics pointed to the narrow, individual nature of the pardon and the direct financial connections as causes for concern.
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