Two individuals who insist they barely know each other have, ironically, made each other vastly rich and repeatedly come to one another’s rescue. That’s the bizarre reality of Changpeng Zhao’s October presidential pardon, which keeps getting ironic by the day.
Zhao, the founder of Binance, global crypto exchange giant, spoke to Fox News recently, saying that he never physically met or talked with U.S. President Donald Trump—not before the pardon, not after. He says his only brush with the Trump orbit was bumping into Eric Trump once at a Bitcoin conference in Abu Dhabi.
“There is no business relationship between me, Binance, and World Liberty Financial,” Zhao insisted, referring to the Trump family’s crypto venture.
Your completely free resource hub designed to boost your knowledge of cryptocurrencies
Zhao had pleaded guilty in 2023 to enabling money laundering through Binance, with government prosecutors claiming he caused “significant harm to US national security.” He served four months behind bars and stepped down as Binance’s chief executive. Trump’s pardon in October 2025 wiped his record clean and lifted all the restrictions that had barred him from running financial businesses.
President Doubles Down on Denial
Even Trump has claimed that Zhao is a total stranger to him. Asked about the pardon during Sunday’s 60 Minutes interview on CBS, the president didn’t mince words: “I don’t know who he is.” Trump said his advisors told him Zhao got caught up in a Biden-era “witch hunt” against the crypto industry.
Democratic lawmakers have condemned the pardon. One of them, Maxine Waters, accused Trump of running a “pay-to-play” scheme. Senators Elizabeth Warren and Bernie Sanders, along with five other Democrats, sent a letter to U.S. Attorney General Pamela Bondi, pressing for details on potential conflicts of interest related to the pardon.
Industry experts say the claims of both Trump and Zhao are laughable, as their companies are doing business together through crypto deals worth billions. World Liberty Financial—Trump’s own venture—announced a $2 billion Binance investment using its stablecoin just months ago.
