Overview
- In a CBS 60 Minutes interview, President Trump said he did not know Changpeng “CZ” Zhao and described the case as a Biden-era “witch hunt,” while asserting his focus on keeping the U.S. “number one in crypto” and noting his sons’ business is separate from government.
- Democratic senators led by Elizabeth Warren have requested explanations from the Justice Department and Treasury by Nov. 4 about the pardon’s implications for law enforcement and any related contacts or conflicts.
- Reporting has detailed Binance’s technical role in the Trump family’s stablecoin (USD1) and a $2 billion MGX transaction executed using that stablecoin, though World Liberty and Binance representatives dispute aspects of those accounts.
- Critics highlighted a perceived contradiction between Trump’s claim that he did not know Zhao and his earlier attacks alleging President Biden’s autopen pardons were invalid because Biden supposedly did not know the recipients.
- The pardon restores Zhao’s personal rights but leaves open questions about his standing with U.S. regulators and does not automatically alter Binance’s settlement obligations or oversight arrangements.