New Statements from the White House Regarding CZ’s Pardon! “Why and How Was CZ Pardoned?”

As is known, US President Donald Trump recently added Binance founder Changpeng Zhao (CZ) to his pardon chain.

Donald Trump announced on October 23 that he pardoned CZ, the founder of Binance, the world’s largest cryptocurrency exchange.

While Trump’s pardon of CZ made a big splash in the cryptocurrency industry, the White House made new statements regarding CZ’s pardon.

Accordingly, the White House said CZ’s pardon followed a thorough review.

White House Press Secretary Karoline Leavitt stated at a press conference that the decision to pardon Binance founder Changpeng Zhao was made after a thorough review.

Leavitt stated that the process was thoroughly reviewed and concluded by both the Justice Department and the White House Counsel’s Office.

On that point, Leavitt emphasized that CZ’s pardon went through standard review procedures before reaching President Donald Trump’s desk for final approval.

Leavitt also clarified Trump’s previous statement that he did not know CZ, stating that his statement was not to indicate that he was unaware of her case, but rather that he did not know her personally.

Leavitt also emphasized that CZ’s pardon was a measure aimed at correcting the political excesses of the previous Biden administration.

Leavitt’s statements came after criticism from some US political circles that the pardon constituted preferential treatment.

As you may recall, CZ pleaded guilty to failing to maintain an effective anti-money laundering program in 2023 and was sentenced to four months in prison before President Trump approved the pardon.

*This is not investment advice.