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The White House confirmed that President Donald Trump’s pardon of Binance founder Changpeng Zhao went through the standard review process before approval. Press Secretary Karoline Leavitt said the case received full consideration by the Department of Justice and the White House Counsel’s office.
Trump defended his decision in an interview with CBS News’ 60 Minutes, stating he had “no idea” who Zhao was and denied any personal connection. He described criticism over the pardon as politically driven.
Leavitt told reporters that Trump’s comments meant he did not know Zhao personally and had no relationship with him. She explained that each pardon undergoes detailed legal scrutiny before reaching the president.
“There’s a team of qualified lawyers who review every single pardon request,” Leavitt said. “The president is the ultimate decision maker.”
The process was described as “thorough and serious,” aimed at ensuring fairness and consistency. The statement came after reports alleging Binance’s involvement in building the Trump-linked World Liberty Financial stablecoin. Binance CEO Richard Teng denied any connection.
The Zhao pardon arrives as Washington revisits its stance on digital assets. Trump’s administration has recently engaged with entrepreneurs and finance experts to discuss updated crypto regulations that balance innovation and consumer protection.
Supporters view this shift as a step toward global competitiveness. They note that regions like Singapore, the UAE, and the European Union have gained investor confidence through clear crypto frameworks.
Zhao, who pleaded guilty in 2023 to violating the Bank Secrecy Act, served a four-month sentence before receiving the pardon. His case reignited discussion about fair enforcement of financial laws while encouraging technological advancement.
Leavitt accused the previous administration of “weaponizing” the Justice Department and imposing excessive penalties. She said Trump’s decision sought to correct an unjust outcome and signal an end to restrictive crypto policies.
Zhao’s 2023 plea involved Binance’s failure to maintain an effective Anti–Money Laundering program. Prosecutors initially sought a three-year sentence, but a federal judge reduced it to four months, calling the longer term disproportionate.
In the 60 Minutes interview, CBS’s Norah O’Donnell asked Trump about potential conflicts tied to the pardon. Trump avoided the question, responding that he would “rather not have you ask.”
He added that the United States remains “number one in crypto” and that he would not allow “China or anybody else” to dominate the space.
The pardon’s timing, alongside reports of Trump-linked ventures in digital assets, has prompted questions about the administration’s direction. Could this move redefine the boundaries between regulation and innovation in America’s evolving crypto landscape?
The White House confirmed that President Trump’s pardon of Binance founder Changpeng Zhao followed a complete legal review. The decision signals a changing tone in U.S. crypto policy, aiming to balance regulation with innovation while restoring fairness in financial oversight.
