Donald Trump’s recent comments about his pardon of cryptocurrency mogul Changpeng Zhao ignited significant laughter during a CNN discussion, highlighting both the baffling nature of his claim and the implications of his relationships within the crypto industry.
Last month, Trump pardoned Zhao, the founder of Binance, who had served four months in prison after pleading guilty to money laundering. As part of his conviction, Zhao’s company was subjected to penalties of over $4 billion, with Zhao himself settling for $50 million.
When questioned about the pardon during a segment on CBS News’ “60 Minutes,” Trump claimed he did not know who Zhao was, despite having effectively erased Zhao’s criminal record. This assertion drew skepticism from analysts, particularly given that Binance had previously invested $2 billion in World Liberty Financial, a cryptocurrency venture associated with the Trump family. Reports also noted that Zhao had employed lobbyists to advocate for his pardon.
Despite these concerns, GOP strategist Scott Jennings attempted to defend Trump’s statement on CNN’s “NewsNight” with Abby Phillip. Jennings contended that Trump likely didn’t “personally” know Zhao, a statement that led to incredulous reactions from other panel members. Florida Representative Jared Moskowitz and activist David Hogg openly mocked Jennings’ defense, with Hogg sarcastically asserting, “It’s totally above board, obviously!” and Moskowitz quipping, “’A’ for effort.”
As the discussion progressed, Hogg continued to challenge Jennings’ stance, shifting the focus to the political landscape in New York City and the rising popularity of mayoral candidate Zohran Mamdani. Jennings remarked on the perceived Marxist leanings of the candidate, gesturing towards Hogg as he commented on a campaign contribution. Hogg retorted sharply, critiquing the disconnect between elite perspectives and the financial struggles faced by everyday citizens. He emphasized that the appeal of politicians like Mamdani stemmed from their relatable messaging, contrasting it with what he described as lectures from affluent commentators.
The segment underscored the complex intersection of politics, money, and public perception in the context of Trump’s presidency and the cryptocurrency landscape, with the implications of such pardons continuing to provoke discussion and amusement.
