White House Defends Trump’s Pardon of Binance Founder Changpeng Zhao

The White House said on Tuesday that President Donald Trump’s pardon of Binance founder Changpeng “CZ” Zhao went through the standard legal review process before being approved. 

Press Secretary Karoline Leavitt emphasized that the decision was handled with “utmost seriousness” and reviewed by both the Department of Justice and the White House Counsel’s Office.

Leavitt’s comments followed Trump’s interview with CBS News’ 60 Minutes, in which he claimed to have “no idea” who Zhao is, dismissing criticism of the pardon as politically driven. “The president does not know him personally,” Leavitt clarified during the briefing. 

“There’s a whole team of qualified lawyers who evaluate every single pardon request before it reaches the president, who makes the final decision.”

The pardon, announced last week, has sparked controversy amid reports suggesting Binance was involved in helping the Trump family’s crypto venture, World Liberty Financial, develop its stablecoin and secure a $2 billion investment deal.

Binance CEO Richard Teng has publicly denied these allegations.

Trump’s Pardon “Corrected a Wrong,” Says Leavitt

Leavitt defended the president’s decision, arguing that Zhao had been “over-prosecuted by a weaponized DOJ” under the Biden administration. She said the pardon was a way for Trump to “correct that wrong” and end what she described as “the Biden administration’s war on the cryptocurrency industry.”

Zhao, who pleaded guilty in November 2023 to failing to maintain an effective anti–money laundering program at Binance, was sentenced to four months in prison—less than the three-year term sought by U.S. prosecutors. The sentencing judge at the time called the initial request “too harsh.” Zhao began serving his sentence in April 2024.

His attorney, Teresa Goody Guillén, and other supporters argued the sentence was excessive for a non-violent, first-time offender charged with a single compliance-related violation.

Cut Question From 60 Minutes Raises Eyebrows

A segment of Trump’s 60 Minutes interview that did not air included a question from Norah O’Donnell about whether he was concerned “about the appearance of corruption” related to Zhao’s pardon. 

According to a transcript, Trump responded, “I’d rather not have you ask the question.” He added that the U.S. is “number one in crypto in the whole world” and that he didn’t want “China or anybody else to take it away.”

CBS later said the interview was “condensed for clarity.” Before the omitted exchange, Trump noted that his sons were more involved in cryptocurrency than he was. He also admitted that he knows very little about it, other than one thing that it’s a huge industry.