USNOV 3, 2025
Trump Squirms When Asked Why He Pardoned Crypto King Linked To His Sons: “I Don’t Know Who He Is”
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Despite pardoning the multi-billionaire founder of crypto exchange company Binance, Donald Trump said he does not know who he is.
The U.S. President pardoned Changpeng Zhao, also known as CZ, just 10 days ago, but when questioned about the appearance of corruption during CBS’ 60 Minutes, he became frustrated.
In 2023, Zhao pleaded guilty to enabling money laundering and was sentenced to four months imprisonment in April 2024.
Donald Trump said he did not know who Changpeng Zhao was
Image credits: Demetrius Freeman/The Washington Post via Getty Images
Binance also pleaded guilty and agreed to pay $4.3 billion in a settlement with the Department of Justice, with Zhao stepping down as CEO.
The company has since been linked to a Trump-family crypto venture called World Liberty Financial, which developed a stablecoin and digital tokens with involvement from Binance.
Trump was questioned over Zhao’s pardon during a 60 Minutes interview at his Mar-a-Lago estate Friday, with part of his frustrated response being cut from the final edit that aired Sunday.
“The government at the time said that CZ had caused ‘significant harm to U.S. national security,’ essentially by allowing terrorist groups like Hamas to move millions of dollars around,” Norah O’Donnell asked the president. “Why did you pardon him?”
Trump replied: “Okay, are you ready? I don't know who he is.”
Image credits: Ben McShane/Sportsfile for Web Summit via Getty Images
“I know he got a four-month sentence or something like that, and I heard it was a Biden witch hunt,” he added.
O’Donnell went on to say that Binance helped facilitate a $2 billion purchase of World Liberty Financial’s stablecoin before Trump announced Zhao’s pardon.
“How do you address the appearance of pay for play?” O’Donnell asked.
“Well, here’s the thing, I know nothing about it because I’m too busy doing the other…” Trump said, as O’Donnell interrupted him, saying, “But he got a pardon.”
“Norah, I can only tell you this: My sons are into it,” Trump said.
“I’m glad they are, because it’s probably a great industry, crypto. I think it’s good. You know, they’re running a business, they’re not in government.”
CBS aired a roughly 28-minute interview with Trump, but later released a 73-minute extended cut online, as well as transcripts.
Those transcripts show that some of Trump’s more frustrated responses were cut from the edit that aired on TV.
He continually ranted about the Biden administration in relation to Zhao’s conviction and crypto as an industry.
“So not concerned about the appearance of corruption with this?” O’Donnell asked, as per the transcript.
Trump responded, “I can't say, because—I can't say—I'm not concerned. I don’t—I’d rather not have you ask the question. But I let you ask it. You just came to me and you said, “Can I ask another question?” And I said, yeah. This is the question…”
The Trump family reportedly earned more than $800 million from crypto in the first half of 2025
Image credits: 60 Minutes
The president further said the U.S. is “number one in crypto in the whole world” and that former President Biden “wanted to also [be number one], at the very end.”
After Trump’s comments during 60 Minutes, the program included a voiceover that said World Liberty Financial has denied any involvement in Zhao’s pardon.
World Liberty Financial is a crypto-asset business affiliated with the Trump Organization, with a Trump-owned entity holding a 60% stake in the firm.
Eric Trump and Donald Trump Jr. are both actively involved in overseeing and promoting the venture.
According to Reuters, the Trump family earned more than $800 million from crypto, including World Liberty token sales, in the first half of 2025.
Image credits: Spencer Platt/Getty Images
With the Trump Organization’s total income for the same period estimated at $864 million, this means roughly 90% of the family’s revenue came from crypto-related ventures.
Reporting by Reuters and The Wall Street Journal indicates that Binance’s connection to World Liberty Financial centers on the USD1 stablecoin.
MGX, an Abu Dhabi fund, used USD1 in a $2 billion investment linked to Binance, which, according to reporting, represented roughly three-quarters of all USD1 coins in circulation.
Some reports also say Binance engineers contributed to the coin’s code, though both Binance and World Liberty have disputed aspects of those accounts.
The Wall Street Journal reported that the market value of World Liberty’s newly launched stablecoin surged from approximately $127 million to more than $2.1 billion earlier in 2025, in connection with Binance’s involvement.
World Liberty told WSJ that Binance had no role in its transaction with MGX.
A lawyer for Binance similarly stated that Changpeng Zhao “did not act as the relationship facilitator or financier” in any dealings between MGX and the Trump-linked crypto venture.
Also during Trump’s 60 Minutes interview, the first since he sued parent company Paramount over its editing of a Kamala Harris interview, he defended ICE raids.
Trump told O’Donnell that Immigration and Customs Enforcement (ICE) operations “haven’t gone far enough” and said his administration had been “held back” by “liberal judges.”
Trump also discussed the ongoing government shutdown and blamed the Democrats for not voting to reopen the country.
“The Republicans are voting almost unanimously to end it, and the Democrats keep voting against ending it,” Trump said.
He added, “I’m not going to do it by being extorted by the Democrats who have lost their way.”
“There's something wrong with these people.”
