Trump Denies Knowing Binance Founder Zhao After Granting Pardon

Trump Distances Himself from Binance Founder CZ

US President Donald Trump stated he does not know Changpeng Zhao (CZ), founder of Binance, despite granting him a pardon in a lawsuit case. Trump clarified he never met Zhao and was informed that Zhao faced a "witch hunt" under the Biden administration.

Pardon Controversy

The White House defended the pardon, claiming it was part of a broader strategy against the "war on cryptocurrency" by the previous administration.
Seven Democratic senators, led by Elizabeth Warren, expressed concerns over the pardon, suggesting potential financial connections between Binance and Trump's family crypto ventures might have influenced the decision.
A deadline for an explanation from the Department of Justice and Treasury is set for Nov. 4.

Trump's Stance on Crypto Ventures

Trump dismissed conflicts of interest allegations, emphasizing US leadership in crypto.
He mentioned his sons' involvement in crypto as separate from government affairs.
Trump supports the US maintaining its lead in the cryptocurrency sector to counter global rivals like China.

Previously, the Trump administration suspended a fraud investigation into Justin Sun after his investments in the Trump family's digital asset venture. Trump has also pardoned founders of BitMEX and Ross Ulbricht of Silk Road.