**Trump Denies Knowing CZ Amid Pardon and Family’s USD1 Stablecoin Ties**
*Published on BitcoinEthereumNews.com*
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President Donald Trump pardoned Binance founder Changpeng Zhao (CZ) in late October for anti-money-laundering violations. However, during a CBS 60 Minutes interview, Trump denied any personal knowledge of Zhao, describing the case as a Biden administration overreach. This distancing came amid heightened scrutiny over Trump’s ties to the crypto sector.
### Trump’s Pardon Erased CZ’s Conviction
The presidential pardon wiped out Zhao’s 2023 guilty plea and associated penalties, which included a $50 million fine and a four-month prison term. This move effectively erased the legal consequences Zhao faced for his role in violating anti-money-laundering laws.
### Binance Faced Massive Settlement
Binance, the world’s largest cryptocurrency exchange, had agreed to pay $4.3 billion to settle charges related to inadequate anti-money-laundering controls. These lapses allegedly enabled illicit financial activities to persist on the platform, attracting regulatory backlash.
### Family Crypto Connections Raised Concerns
Adding to the controversy, Trump’s sons’ World Liberty Financial project involved Binance in a $2 billion stablecoin deal titled “USD1.” This connection fueled criticism from Democrats, who argued there were conflicts of interest and flagged potential irregularities in the stablecoin’s reserves and funding structure.
### Implications and Controversy
Trump’s pardon of Binance’s CZ has sparked widespread debate over the intersection of politics, crypto regulation, and family business ventures. Many observers are closely watching how these developments could influence future regulatory frameworks in the cryptocurrency space.
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https://bitcoinethereumnews.com/tech/trump-denies-knowing-cz-amid-pardon-and-familys-usd1-stablecoin-ties/?utm_source=rss&utm_medium=rss&utm_campaign=trump-denies-knowing-cz-amid-pardon-and-familys-usd1-stablecoin-ties
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