Binance co-founder and former CEO Changpeng Zhao (CZ) said he was caught off guard by his presidential pardon from Donald Trump, clarifying that he has never met or conducted business with the US president or his family.
Speaking with Fox News on Friday, CZ said he had met Trump’s son, Eric, only once at the Bitcoin Middle East and North Africa conference in Abu Dhabi.
“There is no business relationship between me, Binance, and World Liberty Finance,” CZ stated, dismissing speculation of financial ties to the Trump-linked crypto platform.
CZ claimed that he was unaware of the pardon’s progress.
“I did not know when or if it was going to happen. I believe my lawyers submitted the petition in April, and it took a few months. There was no indication of how far it went along. Then, it happened one day.”
The pardon, granted in October, triggered strong political reactions. While many in the crypto community viewed it as a symbolic win for digital asset advocates after years of regulatory hostility, Democratic lawmakers condemned it as an act of political favoritism.
During a post-pardon press conference, Trump said he didn’t personally know CZ but was told the case was “politically motivated.”
“He had a lot of support, and they said that what he did is not even a crime,” Trump said.
The decision has since become a flashpoint in Washington. Representative Maxine Waters accused Trump of a “pay-to-play” arrangement, claiming the pardon was tied to crypto-related investments funneled into Trump-affiliated ventures such as World Liberty Financial (WLFI).
Several Democratic senators, including Elizabeth Warren and Bernie Sanders, have called for an inquiry, sending an open letter to Attorney General Pam Bondi urging a review of the pardon process.
As reported, Senator Elizabeth Warren’s lawyer has dismissed CZ’s threat of a defamation lawsuit, insisting her comments about his criminal conviction were factually correct and supported by public records.
The dispute stems from an Oct. 23 post on X, where Warren criticized former President Donald Trump’s pardon of Zhao, calling it “corruption.”
Zhao’s attorney, Teresa Goody Guillén, demanded a retraction, accusing Warren of damaging her client’s reputation.
In response, Warren’s attorney, Ben Stafford, said any defamation claim would be “without merit,” emphasizing that Zhao pleaded guilty to violating the Bank Secrecy Act by failing to maintain an effective anti-money laundering program at Binance.
Stafford clarified that Warren’s post did not claim Zhao was charged with direct money laundering, only that he broke AML laws – a statement “true in all respects,” he said.
Warren also alleged that Zhao “financed Trump’s stablecoin and lobbied for a pardon,” citing media reports linking Binance to the Trump family’s crypto venture, World Liberty Financial.
Meanwhile, Binance is reportedly exploring ways to re-enter the US market following President Donald Trump’s pardon of CZ.
