Trump White House Breaks Silence on CZ Pardon, Confirms ‘Thorough Review’ | Invesloan.com

The White House has defended President Donald Trump’s decision to pardon Binance founder Changpeng “CZ” Zhao, confirming that the clemency followed a “thorough review process” by both the Department of Justice and the White House Counsel’s Office.

Speaking at a press briefing on Tuesday, White House press secretary Karoline Leavitt said the pardon was reviewed “with the utmost seriousness” and went through the same standard procedures applied to all cases that reach the president’s desk.

“There’s a whole team of qualified lawyers who look at every single pardon request,” she said. “The president is the ultimate final decision maker.”

Is Trump Correcting a Wrong or Rewarding an Ally in the Crypto Industry?

Trump, in a recent CBS 60 Minutes interview, defended his decision to pardon Zhao, saying he had “no idea who he is” and rejecting suggestions that the move was politically motivated.

Leavitt later clarified that the president meant he did not know Zhao personally and had no prior relationship with him.

The White House statement comes amid growing criticism from Democratic lawmakers, who argue that the pardon was influenced by Zhao’s reported financial ties to the Trump family’s crypto venture, World Liberty Financial.

Recent reports suggested that Binance had assisted in developing a stablecoin for the company and was involved in a $2 billion investment deal, claims denied by Binance CEO Richard Teng.

During the extended segment of Trump’s 60 Minutes interview, CBS anchor Norah O’Donnell questioned whether pardoning Zhao created “the appearance of corruption,” given Binance’s reported business ties to the Trump family.

Trump dismissed the suggestion, calling Zhao’s case a “Biden witch hunt.”

He added that while his sons are active in the digital asset industry, his own involvement is limited, describing crypto as a “major industry” essential to maintaining U.S. competitiveness against China.

Notably, Leavitt said Zhao was “over-prosecuted by a weaponized DOJ,” claiming the Biden administration pursued an excessive sentence.

“Even the judge in his case said the punishment being sought was egregious,” she added. “The president is correcting that wrong and has officially ended the Biden administration’s war on the cryptocurrency industry.”

Zhao pleaded guilty in November 2023 to failing to maintain an effective anti-money laundering program at Binance, a violation of the Bank Secrecy Act.

Prosecutors had requested a three-year prison term, but the sentencing judge ruled that too harsh and instead imposed a four-month sentence, which he began serving in April 2024 and was released in September of the same year.

Lawmakers Demand Probe Into Trump’s Financial Ties After CZ Pardon

The pardon has reignited political controversy in Washington. Senator Elizabeth Warren called it “an example of political corruption,” claiming Zhao had financed Trump’s stablecoin project and lobbied for clemency.

Congresswoman Maxine Waters said the decision “legitimizes crypto crime” and accused Trump of “doing massive favors for crypto criminals who have helped line his pockets.”

A group of Democratic senators, including Warren, Bernie Sanders, Chris Van Hollen, and Jack Reed, sent a letter to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent demanding explanations on whether Trump’s financial ties to Zhao influenced the decision.

Zhao’s legal team has since threatened to sue Senator Warren for defamation after she referred to his case as “criminal money laundering,” which his lawyers say mischaracterizes the charge.

Warren’s counsel rejected the claim, maintaining her statement was accurate and based on public record.

Notably, the pardon lifts prior restrictions that had prevented Zhao from engaging in financial ventures, though it remains unclear how it will affect his standing with U.S. regulators or his role at Binance.

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