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Crypto: Trump's pardon and what it means

Blockchain related 2025-11-04 02:20 15 Tronvault

The Curious Case of Trump's Crypto Amnesia

Donald Trump's recent claim that he has "no idea who" Changpeng Zhao is, despite pardoning the crypto tycoon last month, raises some interesting questions. Especially when you consider the documented connections between Zhao's companies and Trump-related ventures. The White House Press Secretary even framed Zhao's prosecution as part of a "war on cryptocurrency," which is a pretty specific defense for someone you supposedly don't know. 'I don't know who he is,' says Trump after pardoning crypto tycoon

Let's break this down. Zhao, also known as "CZ," pleaded guilty to enabling money laundering in 2023. He served four months and stepped down as CEO of Binance, the crypto exchange he co-founded. Now, Trump claims ignorance. But here's the wrinkle: Zhao's companies have partnered with firms linked to Trump, including Dominari Holdings, where Trump's sons sit on the board of advisers. And Dominari Holdings is based in Trump Tower.

The pardon itself lifts restrictions that prevented Zhao from running financial ventures. Whether it affects his standing with US regulators or his role at Binance remains to be seen. Karoline Leavitt's defense, calling it an "overly prosecuted case," suggests a level of familiarity that contradicts Trump's denial.

It gets even more tangled. The Trump administration previously halted a fraud case against crypto entrepreneur Justin Sun after Sun invested in the Trump family's crypto firm, World Liberty Financial. And in May, a stablecoin launched by World Liberty Financial was slated for use by an Abu Dhabi firm in a $2 billion investment in Binance. (The exact nature of this "investment" is still murky.)

Crypto: Trump's pardon and what it means

Trump has also pardoned other figures in the crypto world, including founders of BitMEX and Ross Ulbricht of Silk Road. So, we're not talking about an isolated incident here. This is a pattern.

So, what do we make of this? Is it possible that Trump genuinely doesn't remember the details of every pardon he's issued? Sure. But the connections, the justifications, and the sheer number of crypto-related pardons suggest a deeper engagement. Is it a calculated strategy to appeal to the crypto-friendly crowd? Or is there a more direct financial incentive at play? Details on the specific internal communications that led to the pardon remain scarce, but the timing and associations are hard to ignore.

I've looked at hundreds of these cases, and the level of public defense from the Press Secretary is unusual. The argument that this was an "overly prosecuted case" doesn't just pop up out of nowhere. It's a specific narrative pushed by someone with knowledge of the situation. The question is, who crafted that narrative, and why? And how does it square with the president's supposed ignorance?

Just Business, or Something Shadier?

The numbers don't lie, but the words can certainly obscure the truth. Trump's denial, coupled with the documented connections, creates a discrepancy that demands further scrutiny. It's easy to dismiss this as just another political maneuver, but the potential implications for financial regulation and national security are too significant to ignore.

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