- CZ says Trump pardon came as a surprise and denies any business links with the Trump family.
- Zhao rejects claims tying Binance or himself to Trump’s World Liberty Finance platform.
- Trump calls Zhao’s case “politically motivated,” leading to backlash from U.S. lawmakers.
Binance co-founder and former CEO Changpeng Zhao, also known as CZ, said he was surprised by his presidential pardon from Donald Trump and denied having any business ties with the Trump family.
Speaking on FOX News’ Special Report on November 7, Zhao clarified that he has never met or conducted business with the former president or his relatives. He added that pleading guilty last year was the best way to confront legal issues directly and move forward.
Zhao, who had voluntarily traveled to the United States from a non-extradition country, said he remains focused on helping the U.S. strengthen its position in the global crypto industry.
CZ Rejects Allegations
During the interview, Zhao firmly rejected speculation suggesting that his pardon was influenced by financial connections to Trump-affiliated firms. He addressed claims linking Binance to World Liberty Finance, a crypto platform associated with Trump’s circle, calling them “categorically false.”
Zhao emphasized that neither he nor Binance had any dealings with the company or the Trump family. “There is no business relationship between me, Binance, and World Liberty Finance,” he said.
Zhao acknowledged meeting Eric Trump once during the Bitcoin Middle East and North Africa conference in Abu Dhabi but said the encounter was brief and unrelated to business. He reiterated that his lawyers submitted a petition for clemency in April and that he did not receive any updates on its progress. “I did not know when or if it was going to happen,” Zhao said. “Then, it just happened one day.”
Trump Calls Case ‘Politically Motivated’
President Trump granted Zhao’s pardon in October, describing his case as “politically motivated.” Trump said during a post-pardon press briefing that he did not know Zhao personally but believed the case was unjust. “He had a lot of support, and they said that what he did is not even a crime,” Trump told reporters.
However, the decision drew immediate political backlash in Washington. Democratic lawmakers, including Representative Maxine Waters, accused Trump of engaging in a “pay-to-play” arrangement. Waters claimed the pardon was connected to crypto-related investments allegedly funneled into Trump-linked ventures such as World Liberty Financial.
Warren’s Attorney Dismisses CZ Defamation Threat
The controversy widened when Senator Elizabeth Warren’s lawyer rejected Zhao’s threat of a defamation lawsuit. Warren had criticized Trump’s pardon on X, calling it “corruption.” In a letter, her attorney Ben Stafford said Zhao’s claims of defamation were “without merit,” citing public records that confirmed his guilty plea under the Bank Secrecy Act.
Warren also cited reports alleging Zhao financed Trump’s stablecoin initiative and lobbied for clemency, accusations Zhao has denied. Despite the fallout, Binance is reportedly evaluating pathways to re-enter the U.S. market following Zhao’s pardon, according to multiple sources familiar with the matter.
