【By Observer Net, Liu Bai】
President of the United States, Trump, last month pardoned Changpeng Zhao, co-founder of Binance, thus ending one of the most significant crackdowns on cryptocurrency crimes by the U.S. government.
However, surprisingly, in an interview with CBS on November 2, Trump said he "did not know who Changpeng Zhao was." In the interview, Trump also emphasized his support for cryptocurrencies, stating that the U.S. must remain at the forefront in this field, or it would be surpassed by rivals like China.
Trump was asked during the interview: Why did you decide to pardon him, even though Zhao's actions were alleged to have caused "significant damage to national security of the United States"?
Trump replied, "Well, are you ready? I didn't know who he was." He added that he didn't remember meeting Zhao, "I didn't know who he was at all," and only heard that this businessman was a victim of "political persecution" by the Biden administration.
Trump's interview with CBS
"I know he was sentenced to about four months. And I heard it was political persecution by Biden," Trump said. "This person was treated very unfairly by the Biden administration. He was sent to prison. He is highly respected and a very successful person. But they put him in prison. They really framed him. That's my view. That's what I heard."
Trump and his sons founded the cryptocurrency company "World Free Finance" last autumn.
"My sons are more deeply involved in cryptocurrencies," Trump told the CBS host, "but I don't know much about it."
When the host further asked whether Trump had known Zhao before, Trump said, "All I can tell you is that my sons are doing things in this area. I'm glad they are, because cryptocurrencies could be a great industry."
In the interview, Trump also said that the U.S. must ensure its leadership in this industry, otherwise China and its competitors might gain advantages in this emerging technology.
Zhao founded Binance in 2017, and the exchange later became the largest cryptocurrency exchange in the world. In June 2023, the U.S. Securities and Exchange Commission filed 13 charges against Binance and Zhao, including allegations of artificially inflating trading volume, transferring customer funds, failing to restrict U.S. customers from using its platform, and misleading investors regarding its market supervision controls.
This April, Zhao was sentenced to four months in a federal court in Seattle, but it was significantly shorter than the three-year sentence requested by prosecutors.
On November 21, 2023, Zhao left the Seattle court. Zhao admitted to money laundering charges. Visual China
On October 23, the White House announced that Trump had pardoned Zhao. On the same day, Zhao posted on the X platform: "Heartfelt thanks for today's pardon. Thank you, President Trump, for upholding America's commitment to fairness, innovation, and justice. We will do our best to help the U.S. become the 'Capital of Cryptocurrency.'"
The pardon lifted the restriction on Zhao's ability to operate financial enterprises, but it is currently unclear whether this will change his status in the eyes of U.S. regulators, or his role at Binance.
Bloomberg reported that this move is another act of clemency granted by Trump to cryptocurrency entrepreneurs, highlighting the Trump administration's positioning as a "friend of cryptocurrencies" and revealing the fact that the Trump family has benefited from it. Binance helped the Trump family's business launch a stablecoin, which could bring millions of dollars in annual revenue.
Previously, Trump had used presidential power to revoke multiple prosecutions, which were central to the Biden administration's enforcement agenda in the cryptocurrency industry. He pardoned Ross Ulbricht, the founder of Silk Road, who was sentenced to life in prison for enabling criminal activities on the dark web, and also pardoned several founders of the cryptocurrency exchange BitMEX.
The New York Times also noted that this pardon is the latest example of how high-profile business partners of Trump and his family have benefited from Trump's reversal of the Biden administration's broad crackdown on the cryptocurrency industry. To seek a pardon, Zhao hired lawyers and lobbyists connected to the Trump administration, and Binance reached a business agreement with Trump's family's cryptocurrency company, "World Free Finance."
The Wall Street Journal previously released a major news story - the Trump family had discussed the possibility of investing in the cryptocurrency exchange Binance, and Zhao hoped to obtain a pardon through this. This news caused the price of BNB, the token of Binance, to rise by as much as 10%.
However, Zhao, the founder of Binance, later denied this on social media and stated that the article was "written to attack the president's crypto policy, and the remnants of the previous U.S. government's 'war on crypto' are still stirring up trouble."
The Congressional Herald noted on the 3rd that the criticism from Democrats and Trump's critics has been increasing, as they see this as clear corruption.
"President Trump's pardon of Binance founder Zhao is the latest evidence that the president is using his pardon power to reward wealthy donors and allies, and enriching himself," said California Democratic Senator Adam Schiff in a statement after the pardon.
The White House responded on the 3rd to the criticism of Trump's pardon and the accusations of corruption.
White House Press Secretary Caroline Levet said in a statement: "President Trump exercised his constitutional power to pardon Mr. Zhao. Zhao is a victim of the Biden administration's prosecution in its 'cryptocurrency war.' "
Levet stated in the statement that the sentencing request by the Biden administration for Zhao exceeded the guidelines.
This article is an exclusive article from Observer Net, and it cannot be reprinted without permission.
Original: https://www.toutiao.com/article/7568701086581424691/
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