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The White House has addressed questions around the pardon of Changpeng Zhao, saying the decision followed the usual legal and procedural review before reaching President Donald Trump for final approval.
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During an interview with 60 Minutes, Trump said he had “no idea” who Zhao is. White House press secretary Karoline Leavitt clarified that the comment meant the president did not have a personal connection with him, not that he was unfamiliar with the case.
In a briefing, she explained that the legal team reviewed the matter internally before it went to the Oval Office. She said:
“There’s a whole team of qualified lawyers who look at every single pardon request that ultimately make their way up to the president of the United States. He’s the ultimate final decision maker.”
Zhao pleaded guilty in November 2023 to failing to maintain an effective Anti–Money Laundering program at Binance, a violation of the U.S. Bank Secrecy Act. Prosecutors initially pushed for a three-year sentence. The sentencing judge rejected that and instead issued a four-month term, which Zhao served in 2024.
Leavitt said the White House believed the original prosecution went too far. She said:
“The president is correcting that wrong, and he has officially ended the Biden administration’s war on the cryptocurrency industry, and I think that’s the message he sent with this pardon.”
Rumors had circulated suggesting Binance supported World Liberty Financial, the Trump family crypto venture. Binance CEO Richard Teng has denied that the company participated in funding or building the project.
No. The White House said Trump did not have a personal relationship with him.
He pleaded guilty to failing to maintain proper Anti–Money Laundering controls.
The Department of Justice and the White House Counsel’s office.