Trump Defends CZ Pardon as “Witch Hunt” — But Says He’s Never Met Him

President Donald Trump, the President of the United States of America, defended his decision to pardon Binance founder Changpeng Zhao during a 60 Minutes interview, describing the criminal prosecution as a “witch hunt” while simultaneously claiming he does not know the crypto executive.

The statement marks Trump’s first detailed public comment on the controversial pardon, which drew criticism from legal experts and government watchdogs after it was announced in October 2025.

Additionally, Trump told the news program he granted clemency based on recommendations from advisors who described the case as politically motivated.

He emphasized his sons’ involvement in cryptocurrency ventures but stressed they hold no government positions.

From Guilty Plea to Presidential Pardon

Changpeng Zhao pleaded guilty in November 2023 to violating the Bank Secrecy Act by failing to maintain an adequate anti-money laundering program at Binance.

The Justice Department’s investigation revealed Binance processed transactions for users in sanctioned jurisdictions including Iran, Cuba, and Syria. Also, the exchange failed to report suspicious transactions involving terrorist organizations.

Consequently, the U.S. District Judge Richard Jones sentenced Zhao to four months in federal prison in April 2024. Prosecutors had sought a three-year sentence, while defense attorneys requested probation. However, the White House provided no detailed explanation for the clemency decision.

Zhao began serving his sentence in June 2024 at a low-security facility in California. He was released in September 2024 after completing his term.

Following his release, Zhao remained subject to three years of supervised release and was prohibited from serving as an executive at Binance. The company paid $4.3 billion in penalties as part of the settlement.

Political Controversy and Family Connections

The pardon generated immediate backlash from Democratic lawmakers who questioned potential conflicts of interest. Trump’s sons Donald Jr. and Eric have publicly promoted crypto investments and launched digital asset ventures.

Meanwhile, the president has shifted his stance on cryptocurrency since his first term. He previously called Bitcoin a “scam” but later embraced digital assets during his 2024 campaign.

Trump launched his own NFT collections and accepted crypto donations for his political organization. His family announced plans for a DeFi platform called World Liberty Financial in late 2024.

In the 60 Minutes interview, Trump insisted his family members operate independently. He rejected suggestions that the pardon represented preferential treatment for the cryptocurrency industry.

“They’re not government officials,” Trump said when asked about his sons’ crypto business interests. He maintained the pardon decision stemmed from concerns about prosecutorial overreach.

Following the pardon, Zhao expressed gratitude on social media but provided no details about his future plans.

Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.
🙏🙏🙏🙏

Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.

(Still in flight, more posts to come.)…

— CZ 🔶 BNB (@cz_binance) October 23, 2025

Legal experts noted the pardon eliminates his criminal record and supervision requirements.

Nevertheless, Senator Elizabeth Warren described the pardon as deeply troubling and announced plans to investigate whether improper influence played a role.

The Senate Judiciary Committee scheduled hearings on presidential pardon procedures.

Also, Government ethics groups filed formal complaints alleging the decision violated conflict-of-interest guidelines. The complaints cite Trump family cryptocurrency investments as creating appearance of impropriety.

The clemency does not affect the civil penalties imposed on Binance or restrictions on the company’s U.S. operations. Regulators continue monitoring the exchange’s compliance with settlement terms.