CZ Breaks Silence on Trump Pardon, Denies Any Business Deal with Trump Family on FOX News
Binance’s founder, Changpeng Zhao (CZ), said he was “surprised” by the former President Donald Trump of the United States of America, who recently pardoned him. Speaking on FOX News Special Report November 7, (EST), CZ refuted all allegations that his pardon is a commercial transaction between Binance and the Trump family. The statements followed closely after Trump’s controversial move to expunge CZ’s 2023 money laundering conviction, which resulted in CZ’s resignation from his position as the CEO of Binance and a $4.3 billion fine.
No Business Ties With Trump Family, CZ Claims
CZ refuted the accusations that Binance or he directly had an affiliation with the Trump family in return for leniency. He outright denied rumors that World Liberty Finance, the Trump family’s crypto company, had anything to do with the government in order to get political preferential treatment from Binance. CZ stressed that Binance and its subsidiaries did not have any business or financial relationship with the Trumps. Talking about the pardon, which came after sensational talks with Libyan officials and his refusal to resign, he said: “I do respect the rule of law and this is an unprecedented decision which is completely unrelated to any negotiations.
Forgo 2023 Money Laundering Conviction
CZ’s legal issues started in late 2023 when he entered a plea of guilty to the U.S. felony charges of anti-money laundering offenses. Binance was accused of facilitating illicit transactions and flouting sanctions laws by the Department of Justice and Commodity Futures Trading Commission. CZ was fined one of the largest fines in crypto history – $4.3 billion, and stepped down as CEO. The news of his pardon, which was issued by former President Trump on October 23, 2025, forced questions regarding his connection to the crypto industry and the service sector along with the interests of his political allies.
Led by Senator Elizabeth Warren, the Senate Banking Committee requested an investigation into whether the pardon was a political favoritism or corruption. Rumors suggested that Binance put $2 billion into the MGX Group in Abu Dhabi in the form of the USD1 stablecoin that was invented by World Liberty Financial. Critics alleged this deal had a secondary gain on Trump’s family business. However, there is no evidence of CZ or Binance being directly connected to any quid pro quo. Press Secretary Karoline Leavitt, speaking on behalf of the White House, said Trump’s order was a “course correction” to earlier anti-crypto policies.
Trump’s Crypto Statement and Family Dealings Have People Raising Eyebrows
Trump’s sons, Donald Jr. and Eric Trump founded World Liberty Financial in 2024, a patriotic crypto solution that aims to “rebuild America’s digital economy.” The company was given impetus by political support from conservative quarters. Trump later told CBS’ 60 Minutes that he “did not know who CZ was” with him giving credit to his sons for pushing for the pardon. The timing of these developments and the restoration of access to the U.S. market to Binance continue to create controversy.
The crypto community is still in disarray. Some see the pardon as a breakthrough that may put an end to the estrangement of relationships between major exchanges like Binance and regulators. Others regard it as a dangerous precedent for politics to intrude into the justice. Legal scholars say the decision could remake crypto government, at least in a pro-crypto Trump administration. However, CZ remained optimistic about clearer regulations and ongoing innovation in digital finance despite the backlash.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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