"Last month, Trump pardoned Changpeng Zhao. In 2023, Zhao resigned as the CEO of Binance and pleaded guilty to allowing money laundering on the crypto platform. He served four months in prison. After Trump's victory in 2024, Binance formed a high-level task force to strike a deal with the Trumps' nascent cryptocurrency venture, World Liberty Financial, that Binance could leverage into clemency for Zhao, according to The Wall Street Journal, which cited sources familiar with the matter."
"The publication added that Binance catapulted the Trump family venture's new stablecoin product, enhancing its credibility and pushing its market capitalization up from $127 million to over $2.1 billion. Despite pardoning Zhao, Trump has claimed he knows nothing about him. I don't know who he is, Trump told 60 Minutes on Sunday. I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt."
"Zhao appeared on Friday's Special Report on Fox News, where he denied having any business with World Liberty Financial, which was co-founded by the president's sons, Donald Trump Jr. and Eric Trump. The Binance founder said he was surprised by the pardon, which prompted this exchange: BAIER: You say you were surprised by the pardon. How did it come about? ZHAO: So, what I meant by surprise is I don't know when or if it's gonna happen."
Changpeng Zhao resigned as Binance CEO in 2023, pleaded guilty to enabling money laundering, served four months in prison, and was pardoned last month by President Trump. After the 2024 election, Binance formed a high-level task force to pursue a deal with World Liberty Financial, the Trump family cryptocurrency venture, aiming to leverage that relationship for clemency for Zhao. Binance promoted World Liberty Financial's new stablecoin, driving its market capitalization from $127 million to over $2.1 billion. Trump has said he does not know Zhao. Zhao denied business ties with World Liberty Financial and said he was surprised by the pardon.
Read at www.mediaite.com
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