After the pardon of the founder and former CEO Binance US President Donald Trump stated that he does not personally know Changpeng Zhao and the corruption allegations.
«So, are you ready for an answer? I don’t know who he is,» Trump said on «60 Minutes» when asked about the reasons for the pardon.
Trump thus responded to a wave of criticism, including from American lawmakers, that he is using his family’s cryptocurrency project, World Liberty Financial, to collect money from crypto industry participants in exchange for lobbying decisions.
As is known, Binance played a significant role in the development of this project. The cryptocurrency exchange co-authored the code for the $1 WLF stablecoin and supported its release. The UAE-backed investment firm MGX invested $2 billion in Binance via stablecoin, increasing the token’s market capitalization.
Senator Elizabeth Warren (D-MA), known for her constant criticism of the cryptocurrency industry, called the pardon a «pay-to-play game.»
Donald Trump, for his part, claims he knows nothing about the WLF’s dealings, as he is currently busy with other important matters. He added that his sons run a cryptocurrency business and have no ties to the government.
His critics’ distrust is based on what Trump called, during his first term, Bitcoin «fraud» and called for strict regulation of cryptocurrencies.
Last year, he made a dramatic change of heart, and during his second presidential run, he received donations from crypto companies and accepted cryptocurrency donations.