Trump Denies Knowing Binance Crypto Uncle Changpeng Zhao

Trump’s on-air denial of knowing Binance founder Changpeng Zhao “CZ” after pardoning him is stirring debate in Washington and across crypto markets.

In a “60 Minutes” interview that aired on Sunday, President Donald Trump said he does not know Changpeng “CZ” Zhao, the Binance founder he pardoned last month. 

He defended the move as a response to what he called a Biden-era “witch hunt.”

The exchange occurred during questioning by CBS’s Norah O’Donnell about potential conflicts associated with the Trump family’s expanding cryptocurrency business.

“I don’t know who he is… I heard it was a Biden witch hunt,” Trump told O’Donnell, adding that his sons are involved in crypto but “they’re not in government.” 

Why Did Trump Pardon Binance Crypto Uncle Changpeng Zhao?

The White House and World Liberty Financial (WLF), the Trump family’s crypto venture, say they had nothing to do with clemency for Changpeng Zhao.

Zhao admitted to a Bank Secrecy Act violation in 2023, linked to Binance’s weak anti-money laundering controls. 

He received a four-month sentence in April 2024 and was released from prison that September. Binance later agreed to pay $4.3 billion and accept an outside compliance monitor. Trump granted Zhao a full pardon on Oct. 23, 2025.

Earlier reporting from Reuters said a UAE-backed company planned to use WLF’s USD1 stablecoin in a $2 billion deal involving Binance. 

The report raised conflict-of-interest concerns because the Trump family has deep ties to WLF. 

Another Reuters report found that the Trumps could benefit from the interest generated by the stablecoin.

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Does Trump’s Statement Undercut His Case for Granting Clemency?

Democratic lawmakers and ethics advocates blasted the pardon; House Financial Services Committee ranking member Maxine Waters called Zhao’s clemency “appalling,” citing Binance’s past compliance failures highlighted by US agencies. 

The White House has framed the move as part of ending a supposed “war on crypto.”

For Binance, the moment shows that the 2023–24 settlement did not end US pressure. 

The company is still working with its compliance monitor and attempting to re-enter the American market with reduced legal risks. 

For Trump, his comments could make it harder to later claim that any pardon rested on his personal knowledge of Zhao’s efforts to fix past problems.

As of publication, Bitcoin was trading around $106,927, showing a decline of 2.85% in the past 24 hours.

On the other hand, BNB traded near $993.85, posing an -8.10% intraday decrease, reflecting a choppy session as traders parsed the interview and ongoing political headlines.

What comes next depends on whether Congress or CBS, if pushed, releases the full version of the interview. 

It also depends on whether the White House publishes a written explanation of the pardon that matches Trump’s on-air statement. 

Markets will watch for signs that this dispute slows Binance’s plans to regain broader US access or complicates the administration’s pro-crypto plans.

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