US President Donald Trump recently added Binance founder Changpeng Zhao (CZ) to his pardon list, sparking significant attention within the cryptocurrency industry. On October 23, Trump announced that he had pardoned CZ, the founder of Binance, the world’s largest cryptocurrency exchange.
Following the announcement, the White House issued statements clarifying the details of CZ’s pardon. According to White House Press Secretary Karoline Leavitt, the decision to pardon Zhao came after a thorough review process. Speaking at a press conference, Leavitt emphasized that both the Justice Department and the White House Counsel’s Office conducted a comprehensive evaluation before the pardon reached President Trump for final approval.
Leavitt also addressed Trump’s earlier remark that he did not know CZ. She clarified that the statement was not meant to imply ignorance of Zhao’s case but rather that Trump did not have a personal relationship with him. “Trump’s words were intended to show that he did not know Zhao personally. What he meant was that he didn’t have a personal relationship with CZ,” Leavitt explained.
Furthermore, Leavitt highlighted that CZ’s pardon was intended to correct what the administration viewed as political excesses during the previous Biden administration. This statement came amid criticism from some US political circles, where concerns were raised that the pardon might constitute preferential treatment.
As a reminder, Changpeng Zhao pleaded guilty in 2023 to failing to maintain an effective anti-money laundering program and was sentenced to four months in prison before receiving the pardon from President Trump.
*This is not investment advice.*
https://bitcoinethereumnews.com/tech/new-statements-from-the-white-house-regarding-czs-pardon-why-and-how-was-cz-pardoned/