Trump says he doesn't know crypto billionaire Zhao after granting pardon
U.S. President Donald Trump told reporters that he does not know who cryptocurrency entrepreneur Changpeng Zhao is, despite having granted the multimillion‑dollar founder a presidential pardon last month. The comment came during a press briefing when a journalist asked the president to clarify the rationale behind the unexpected clemency.
Zhao, the founder of a major cryptocurrency exchange, had faced legal challenges in the United States related to alleged violations of securities and money‑laundering regulations. The Department of Justice had previously indicated that the case was part of a broader crackdown on digital‑asset firms. The pardon, issued in the final days of Trump's previous term, removed any remaining criminal penalties and restored Zhao's civil rights.
Legal experts and industry analysts described the move as unusual, noting that presidential pardons are typically reserved for individuals with clear ties to the administration or for cases that have garnered significant public attention. "The decision raised questions about the criteria used for clemency in high‑profile financial cases," said a senior analyst at a financial‑policy think tank. Government officials, speaking on condition of anonymity, emphasized that the pardon was reviewed through standard procedures, though they declined to comment on the president's personal familiarity with the recipient.
Observers noted that the episode highlights the growing intersection between political authority and the rapidly evolving cryptocurrency sector. While some lawmakers called for greater transparency in the pardon process, others argued that the action could signal a shift toward more lenient regulatory attitudes toward digital assets. The White House has not issued a detailed statement, and the president reiterated that his administration focuses on broader economic priorities. The incident is likely to remain a point of discussion as policymakers continue to grapple with how to regulate emerging financial technologies.
