Trump on why he pardoned Binance CEO: “Are you ready? I don’t know who he is.”

In a recent interview with CBS's Norah O'Donnell, President Trump revealed that he remains unfamiliar with Changpeng Zhao, the founder and former CEO of Binance, despite having issued a pardon for him just last month. During the segment, which aired on 60 Minutes, O'Donnell pressed Trump on the reasoning behind the pardon, especially in light of Zhao's guilty plea for breaching anti-money laundering regulations. "The government at the time indicated that C.Z. had caused significant harm to U.S. national security by enabling terrorist organizations like Hamas to transfer millions of dollars," O'Donnell stated. She then asked, "Why did you pardon him?" Trump responded, "Okay, are you ready? I don’t know who he is. I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt." Zhao was charged with failing to uphold a sufficient anti-money laundering program as mandated by the Bank Secrecy Act, leading to his guilty plea. He was sentenced to four months in prison in April 2024 and was released in September 2024. Interestingly, the U.S. government's sentencing recommendation sought a three-year prison term. Trump's pardon, issued on October 21, is seen as a strategic move that could pave the way for Binance to re-establish its presence in the U.S. market, as the exchange has been operating a separate platform for American customers since 2019. Notably, prior to the pardon, discussions were reportedly held between the Trump family and Binance regarding a potential financial investment in the company's U.S. division. Additionally, Binance played a crucial role in facilitating a $2 billion acquisition of the USD1 stablecoin, which is backed by Trump-affiliated World Liberty Financial. Trump's sons, Eric and Donald Jr., have been instrumental in securing lucrative crypto deals for the family's business ventures.