Binance founder and former CEO Changpeng Zhao (CZ) has pushed again in opposition to rising scrutiny surrounding his relationship with President Donald Trump, saying his ties to the president and his household have been extensively misunderstood following Trump’s determination to grant him a pardon final yr.
CZ Rejects Allegations Of Binance’s Political Hyperlinks
Consideration on Zhao intensified after President Trump issued a pardon in October 2025, a transfer that prompted renewed criticism from Democratic lawmakers and fueled questions on Binance’s alleged political and enterprise connections.
Addressing the controversy in a latest interview with CNBC, Zhao mentioned claims of a enterprise relationship with the Trump household are inaccurate. “There’s no enterprise relationship by any means,” Zhao acknowledged. The previous govt added that the narrative surrounding the pardon and Binance’s alleged ties to Trump had been “misconstrued.”
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A lot of the scrutiny facilities on Binance’s connection to the Trump-linked decentralized finance (DeFi) enterprise World Liberty Monetary (WLFI).
That connection traces again to a $2 billion funding made in March 2025 by MGX, a state‑owned agency based mostly in Abu Dhabi, United Arab Emirates. MGX invested in Binance utilizing USD1, a stablecoin created by World Liberty Monetary.
Zhao emphasised that the fee methodology was chosen by the investor, not Binance. “MGX is the investor. They select USD1,” he mentioned. “My request to them was they pay us in crypto. I don’t need to take care of banks, actually.”
In accordance with Zhao, using the enterprise’s USD1 stablecoin has been wrongly interpreted as proof of a deeper relationship. “Many individuals misconstrued that,” he added.
WLFI Push Again On Political Affect Claims
In an announcement, WLFI spokesperson David Wachsman mentioned the corporate performed no function within the pardon course of. “As we have now acknowledged many occasions, WLFI shouldn’t be a political group and had zero function within the pardon course of,” Wachsman mentioned. “To indicate in any other case is harmful and false.”
Trump himself downplayed any private connection in a November interview with CBS’s 60 Minutes. “I do not know who he’s,” the president mentioned of Zhao. Trump added that he had been informed Zhao was “a sufferer, identical to I used to be and identical to many different folks, of a vicious, horrible group of individuals within the Biden administration.”
Further consideration has targeted on Binance’s lobbying efforts in Washington. NBC Information reported through the week of the pardon that Binance had employed Checkmate Authorities Relations, a lobbying agency led by Charles McDowell, who’s a good friend of Donald Trump Jr.
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In accordance with disclosures, the agency was paid $450,000 to foyer the White Home and the Treasury Division on issues together with “govt aid” and digital asset‑associated monetary providers coverage.
Zhao denied that any lobbying effort was related to his pardon. “There’s quite a lot of media saying that there’s some deal in place to get me the pardon,” he informed CNBC in Davos. “So far as I do know, that doesn’t exist in any respect.”
Binance’s former CEO additionally mentioned he has by no means spoken immediately with President Trump. “The closest that I obtained to him was right this moment when he was doing the Board of Peace session,” Zhao mentioned. “I used to be within the viewers, about 30 to 40 ft away from him.”
On the time of writing, Binance Coin (BNB) was buying and selling at $893, having recorded a 4% drop over the earlier week. Nonetheless, it is among the few cryptocurrencies to have retained beneficial properties year-to-date, with a rise of 30% in that point.
Featured picture from OpenArt, chart from TradingView.com
