The Trump administration has defended its controversial choice to pardon Binance founder Changpeng Zhao (CZ).
It comes solely days after Trump claimed to not know the Binance government, regardless of erasing all his anti-money laundering convictions.
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White Home Says CZ Pardon Marks a New Period for US Crypto Coverage
White Home Press Secretary Karoline Leavitt instructed reporters on Tuesday that the CZ pardon displays President Trump’s “commitment to financial freedom, innovation, and fair treatment for US entrepreneurs and global partners in the crypto economy.
Speaking to members of the media, she accused the previous administration of waging a “regulatory crusade” that drove blockchain expertise and capital abroad
Leavitt framed the transfer as a part of a broader effort to “end Biden’s war on crypto” and restore america’ standing as a worldwide chief in digital innovation.
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency. This administration will support innovation — not criminalize it,” Leavitt mentioned.
CZ, who beforehand pleaded responsible to compliance failures at Binance and served a four-month sentence, has remained a polarizing determine in world finance.
Critics of the pardon argue that it undermines the Justice Division’s prior efforts to strengthen oversight within the crypto sector. Supporters, nonetheless, see it as a robust symbolic gesture signaling Trump’s intent to make the US a hub for blockchain development.
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In the meantime, this growth comes shortly after the US president denied realizing CZ, sidestepping any private connection to the Binance government.
“I don’t know who he is. I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt,” TradFi media reported, citing Trump.
Longest US Authorities Shutdown on Report
The announcement got here because the US authorities shutdown entered a record-breaking stretch, with federal businesses shuttered for over 5 weeks resulting from a funding deadlock between the White Home and congressional Democrats.
The extended stalemate has already rattled markets, triggering volatility throughout equities and digital property.
“The US government has now entered day number 35, making it the LONGEST in history. Since the shutdown began on October 1, the US government has borrowed $600 BILLION worth of debt. That’s +$17 billion PER DAY,” wrote the Kobeissi Letter.
Trump advisers used the press briefing to distinction what they known as the administration’s “pro-growth digital policy” with what they described as Democratic obstructionism on each spending and innovation.
With their reckless 35-day authorities shutdown, the Democrats are deliberately hurting American households, staff, and companies to combat free of charge healthcare for unlawful aliens and to appease their radical left-wing base – it’s a complete shame. pic.twitter.com/pViau99o54
— Karoline Leavitt (@PressSec) November 4, 2025
