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11/05/2025

White House: Pardon for CZ Considered "With the Utmost Seriousness"

The White House confirmed that the pardon for Binance founder Changpeng Zhao (CZ) went through a thorough legal review process before President Donald Trump signed it. The announcement was made by White House Press Secretary Karoline Leavitt at a Tuesday press briefing. According to Leavitt, the pardon decision was not arbitrary or politically motivated, but was evaluated "with the utmost seriousness" by the U.S. Department of Justice (DOJ) and the White House Counsel's Office. "There is an entire team of

White House: Pardon for CZ Considered "With the Utmost Seriousness"

The White House confirmed that the pardon for Binance founder Changpeng Zhao (CZ) went through a thorough legal review process before President Donald Trump signed it. The announcement was made by White House Press Secretary Karoline Leavitt at a Tuesday press briefing.

According to Leavitt, the pardon decision was not arbitrary or politically motivated, but was evaluated "with the utmost seriousness" by the U.S. Department of Justice (DOJ) and the White House Counsel's Office. "There is an entire team of qualified attorneys who reviews every pardon application before it reaches the President," she said. "He is the one who makes the final decision."

Trump Says He Didn't Know CZ

In an interview with CBS's 60 Minutes, President Trump said he "didn't know" who CZ was and had no personal relationship with him. According to the press secretary, this was Trump's way of emphasizing that the pardon was not driven by personal interests.

The decision, however, comes amid multiple reports suggesting that Binance or CZ may have supported the Trump family's stablecoin project — an allegation that Binance CEO Richard Teng has denied.

"Correcting a Mistake"

Leavitt argued that Zhao had been "over-prosecuted" under the Biden administration and was a victim of "a weaponized Department of Justice." She stated that Trump's pardon was meant to "correct a mistake" and send a message that the war on the crypto industry was over.

CZ pleaded guilty in November 2023 to failing to maintain an adequate anti-money laundering program at Binance as required by the U.S. Bank Secrecy Act. Although prosecutors sought a three-year prison sentence, the judge found that excessive and sentenced him to 4 months. CZ began serving his sentence in April 2024.

Sensitive Question Cut From Broadcast

CBS confirmed that the aired version omitted a question in which reporter Norah O'Donnell asked whether Trump was concerned about a "corruption optics" problem surrounding the pardon. The transcript shows Trump sidestepped a direct answer and pivoted to America's position in the crypto industry.

He asserted that the United States is "number one in crypto across the entire world" and would not allow China to surpass it. "It's a massive industry," Trump said, "and I'm not going to let any country take that advantage away."