White House press secretary Karoline Leavitt said during a press briefing that the pardon “was considered with utmost seriousness” and followed a “thorough review process” by both the Department of Justice and the White House Counsel’s Office.
“There’s a whole team of qualified lawyers who look at every single pardon request that ultimately make their way up to the president,” Leavitt said. “He’s the ultimate final decision maker.”
She clarified that Trump’s recent 60 Minutes comments — where he said he had “no idea who Zhao is” — were meant to convey that the president does not personally know Zhao and that his decision was made on institutional advice rather than personal ties.
Press secretary Karoline Leavitt addressed reporters about Zhao’s pardon in a briefing. : YouTube
Trump’s team defends the decision
The statement follows reports suggesting Binance had previously assisted Trump’s crypto venture, World Liberty Financial, in a multibillion-dollar deal — a claim Binance CEO Richard Teng has denied.
Leavitt added that the pardon reflects the administration’s stance against what she called “overreach” by the previous administration.
“The president is correcting that wrong,” she said. “Zhao was over-prosecuted by a weaponized DOJ, and this action officially ends the Biden administration’s war on the cryptocurrency industry.”
An excerpt of the transcript showing a question that was cut from the broadcast. : CBS News
Zhao pleaded guilty in 2023 to violating the U.S. Bank Secrecy Act by failing to maintain an effective Anti–Money Laundering program at Binance. He served four months in federal prison, far below the three-year sentence prosecutors initially sought.
An unbroadcast portion of Trump’s 60 Minutes interview, later confirmed through transcripts, showed the president declining to directly answer questions about the appearance of corruption in granting the pardon.
“I’d rather not have you ask the question,” Trump said, adding that the U.S. was now ‘number one in crypto in the whole world’ under his leadership.
The pardon of Changpeng Zhao marks one of the most high-profile acts of clemency involving a figure from the cryptocurrency industry — a decision that may reshape the White House’s relationship with digital assets going forward.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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