Trump Denies Knowing Binance Founder Changpeng Zhao as Crypto Fortune Grows in His Own Backyard

During a 60 Minutes interview, Norah O’Donnell asked Trump about his pardon of Zhao, the Binance founder who spent four months in prison for breaking U.S. money laundering laws. Zhao, known to his fans as “CZ,” was released earlier this year after Trump signed off on the order.

Trump brushed off the question.

“Okay, are you ready? I don’t know who he is,” he said. “I know nothing about the guy, other than I hear he was a victim of weaponization by government. When you say the government, you’re talking about the Biden government.”

His answer raised some eyebrows. Zhao’s company had just helped Trump’s sons make billions through their crypto business, World Liberty Financial, weeks before the pardon.

Zhao, now based in Abu Dhabi, had been found guilty in 2024 of ignoring U.S. banking rules. But Trump defended him like an old friend.

“I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt,” he said. “This man was treated really badly by the Biden administration. And he was given a jail term. He’s highly respected. He’s a very successful guy. They sent him to jail and they really set him up. That’s my opinion. I was told about it.”

For someone who says he barely knows Zhao, Trump spoke as though he had the man’s résumé memorized.

When O’Donnell asked about reports that Binance had helped Don Jr. and Eric’s company complete a $2 billion crypto deal before the pardon, Trump was quick to change direction.

“Norah, I can only tell you this. My sons are into it,” he said. “I’m glad they are, because it’s probably a great industry, crypto. I think it’s good.”

He then shifted into family mode. “Eric and Melania’s books, very successful,” he added proudly. “I’m proud of them.”

Pressed again about whether he had ever met Zhao, Trump said, “I don’t know the man at all. I don’t think I ever met him. Maybe I did. Or, you know, somebody shook my hand or something. But I don’t think I ever met him. I have no idea who he is. I was told that he was a victim, just like I was.”

Trump’s mix of denial and defense was familiar. The more he insisted he didn’t know Zhao, the more he seemed to take his side.

When asked about Zhao’s national security risk, Trump repeated, “That was under Biden,” using the name like a shield.

The pardon quickly became a topic in Washington. Lawmakers questioned whether Trump’s growing crypto empire influenced his decision.

He has promised to make America “the Capital of Crypto,” and his family’s business seems to be doing its part. World Liberty Financial, their main crypto venture, has exploded in value since Trump returned to office. Reports say Binance’s support played a major role in that rise.

According to The Wall Street Journal, the company’s coin has earned the Trump family around $5 billion in paper wealth.

The business is run by Don Jr., Eric, and Barron, with Trump listed as “co-founder emeritus.” He reportedly owns about a quarter of the company’s tokens.

World Liberty says it gives people financial freedom through crypto rather than traditional banking. It has also built ties with investors abroad.

Last month, the company struck a $2 billion deal with the United Arab Emirates involving Binance and one of Trump’s coins. Every transaction using that coin helps grow the family brand — a convenient arrangement for a sitting president.

White House Press Secretary Karoline Leavitt defended the pardon, saying, “This was an overly prosecuted case by the Biden administration. Even the judge indicated that the Biden administration was pursuing an egregious over-sentencing of this individual.”

She also claimed there was no conflict of interest. “Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest,” she said. The statement was met with quiet laughter in the press room.

World Liberty says its founders cannot sell their tokens yet, though they still control most of the profits. Trump owns 25% of the main coin, WLFI, which launched last September.

The shift is remarkable. A few years ago, Trump called Bitcoin a “scam.” Now, he proudly calls himself “the crypto president.”

He and Melania even launched their own meme coins on Inauguration Day. Trump’s coin made $100 million before crashing, while Melania’s spiked, then fell just as fast.

Featured image via Youtube screengrab