Trump Pardons Binance Founder Zhao, Claims No Acquaintance
Former U.S. President Donald Trump has reportedly pardoned Changpeng Zhao, founder of Binance, despite claiming not to know him. Zhao had previously pleaded guilty to violating U.S. money laundering laws and served a four-month prison sentence. Following the reported pardon, Binance allegedly formed a task force to work with the Trump family's cryptocurrency venture, World Liberty Financial, which saw its market cap increase from $127 million to over $2.1 billion. The White House has described this as ending the 'war on cryptocurrency' from the previous administration.
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In a surprising turn of events, former U.S. President Donald Trump has reportedly pardoned Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange. This development comes amidst Trump's claim of not knowing Zhao, despite having issued the pardon.
Pardon Amidst Denial
During a CBS News 60 Minutes interview, Trump reportedly stated that he does not know Changpeng Zhao. However, he mentioned that he had heard Zhao's case was a "Biden witch hunt." This pardon, if confirmed, would effectively lift restrictions that previously prevented Zhao from running financial ventures.
Zhao's Legal Troubles
Changpeng Zhao, known for founding Binance, had earlier pleaded guilty to willful violations of U.S. money laundering laws. According to the article, he served a four-month prison sentence from April 2024.
Post-Pardon Developments
The article suggests that following Trump's election win, certain developments have occurred:
| Event | Details |
|---|---|
| Binance's Action | Reportedly formed a task force to work with Trump family's cryptocurrency venture |
| Venture Name | World Liberty Financial |
| Market Cap Increase | From $127.00 million to over $2.10 billion |
White House Stance
According to the article, the White House has described this pardon as ending the "war on cryptocurrency" from the Biden administration. This statement suggests a potential shift in the approach towards cryptocurrency regulation under the new administration.
While the reported pardon has raised questions, especially given Trump's claim of not knowing Zhao, it marks a significant moment in the intersection of politics and the cryptocurrency world. The implications of this decision on the broader cryptocurrency market and regulatory landscape remain to be seen.
It's important to note that as of now, these developments are based on reports and have not been independently verified.
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