Binance founder Changpeng Zhao (CZ) has publicly addressed his surprise over former U.S. President Donald Trump’s decision to pardon him, denying all allegations of any business dealings with the Trump family. Speaking on FOX News’ Special Report on November 7 (EST), CZ called Trump’s move “unprecedented” but insisted that it had nothing to do with any political or commercial arrangement.
“I do respect the rule of law and this is an unprecedented decision which is completely unrelated to any negotiations,” CZ said, firmly rejecting claims that Binance or its subsidiaries had any financial relationship with Trump or his family.
The comments come amid growing speculation that Trump’s October 23, 2025 pardon of CZ was influenced by alleged crypto-linked interests involving World Liberty Financial, a firm founded by Donald Trump Jr. and Eric Trump. CZ dismissed such rumours outright, calling them “baseless political noise.”
From Record Fine to Presidential Pardon
CZ’s legal troubles date back to late 2023, when he pleaded guilty to violating U.S. anti-money laundering laws, in what was one of the largest enforcement actions in crypto history.
The U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) accused Binance of facilitating illicit transactions and evading sanctions, leading to a record $4.3 billion fine. CZ resigned as Binance CEO, marking a dramatic moment for the exchange that once dominated global crypto trading volumes.
The case became symbolic of Washington’s crackdown on digital assets under the Biden administration, which many in the industry saw as hostile to crypto innovation. Trump’s decision to pardon CZ has therefore reignited debates about the future of crypto regulation in the United States, particularly under a potentially pro-crypto Trump administration.
Political Fallout and Calls for Investigation
The pardon has sparked immediate political backlash. Senator Elizabeth Warren, a long-time crypto critic, has urged the Senate Banking Committee to investigate whether Trump’s move was politically motivated or linked to business interests.
Reports circulated that Binance invested $2 billion in MGX Group, an Abu Dhabi-based entity associated with World Liberty Financial’s USD1 stablecoin, suggesting a potential quid pro quo arrangement.
However, so far, no evidence has surfaced linking CZ or Binance directly to the Trump family’s crypto ventures.
White House Press Secretary Karoline Leavitt defended the decision, calling Trump’s pardon a “course correction” from the previous administration’s “anti-crypto bias.”
Still, critics argue that Trump’s intervention undermines judicial independence. Some legal scholars have gone so far as to label the move a “political pardon”, setting a worrying precedent for regulatory enforcement in emerging financial sectors like crypto.
Trump’s Crypto Agenda and Rising Controversy
Trump’s sons, Donald Jr. and Eric Trump, launched World Liberty Financial in 2024, branding it a “patriotic crypto venture” aimed at rebuilding America’s digital economy. The platform has since gained traction among conservative and libertarian circles, advocating for looser regulations and pro-American blockchain development.
In an interview with CBS’s 60 Minutes, Trump claimed he “did not know who CZ was” and credited his sons for bringing the matter to his attention. That statement has only intensified public scrutiny, with analysts questioning whether family business interests played any role in the decision.
The timing of CZ’s pardon, just as Binance regained limited access to U.S. markets, has fuelled further speculation about political motivations. Supporters argue that Trump’s move could signal a new era of crypto acceptance in Washington, while detractors view it as a setback for financial accountability.
Industry Reactions and Future Implications
The crypto community remains sharply divided. Some industry leaders see the pardon as a turning point that could repair strained relations between regulators and exchanges. Others warn it represents a dangerous intrusion of politics into financial justice.
Despite the controversy, CZ appeared calm and forward-looking during the interview. He reiterated his commitment to transparency, compliance, and innovation, expressing hope that the crypto sector would now see “clearer and fairer regulation” under a more balanced U.S. policy framework.
Legal experts suggest that the pardon, though controversial, may push policymakers to redefine crypto governance and establish clearer oversight standards.
As the dust settles, one thing is certain: CZ’s unexpected comeback, aided by Trump’s pardon, has reshaped the global crypto narrative, merging politics, regulation, and innovation in an unprecedented way.
