Donald Trump

World Liberty Financial

President Donald Trump

Binance co-founder CZ said he was somewhat surprised at receiving a pardon from United States President Donald Trump and denied having a business relationship with the Trump family during an interview on Friday. CZ <a href="https://www.foxnews.com/video/6384817071112" rel="noopener noreferrer nofollow" target="_blank">told</a> Fox News that he never physically met or spoke with Trump before or after <a href="https://cointelegraph.com/news/trump-pardons-binance-founder-cz" rel="noopener noreferrer nofollow">receiving a presidential pardon</a> in October, and only met with Trump’s son Eric once at the Bitcoin Middle East and North Africa conference in Abu Dhabi, United Arab Emirates.
“There is no business relationship between me, Binance, and World Liberty Finance,” CZ said. He added that he was unaware of the status of his pardon during the process:
<blockquote>
 “I did not know when or if it was going to happen. I believe my lawyers submitted the petition in April, and it took a few months. I didn’t know the progress. There was no indication of how far it went along, etc. Then, it happened one day.”
</blockquote>
<figure>
 <img alt="Changpeng Zhao, US Government, United States, Donald Trump" src="https://s3.cointelegraph.com/uploads/2025-11/019a653f-172b-7658-9744-037b8362c112" title="">
 <figcaption style="text-align: center;">
 Binance co-founder CZ pushes back against claims that his pardon was financially motivated. Source: <a href="https://www.foxnews.com/video/6384817071112" rel="noopener noreferrer nofollow" target="_blank">Fox News</a>
 </figcaption>
</figure>
The pardon drew mixed reactions, with the crypto community celebrating it as a win for the industry and a reversal of the anti-crypto policies of the Biden administration, while <a href="https://cointelegraph.com/news/senate-democrats-demand-answers-on-trump-cz-pardon" rel="noopener noreferrer nofollow">Democratic lawmakers were critical of the pardon</a>, accusing Trump of political corruption.
Related: <a href="https://cointelegraph.com/news/changpeng-zhao-regained-power-between-prison-pardon" rel="noopener noreferrer nofollow">How Changpeng Zhao regained power between prison and pardon</a>
<h2 id="cz-pardon-sparks-controversy-and-accusations-of-pay-to-play-mechanics">CZ pardon sparks controversy and accusations of pay-to-play mechanics</h2>
In a press conference following the pardon, Trump <a href="https://www.youtube.com/watch?v=4GZHAAPCxr8" rel="noopener noreferrer nofollow" target="_blank">said</a> that he <a href="https://cointelegraph.com/news/trump-tells-why-he-pardoned-cz-despite-not-knowing-him" rel="noopener noreferrer nofollow">does not personally know CZ</a>, but was advised that the <a href="https://cointelegraph.com/news/trump-pardons-binance-founder-cz-crypto-community-support" rel="noopener noreferrer nofollow">case against him was politically motivated</a>.&nbsp;
“He had a lot of support, and they said that what he did is not even a crime, it wasn’t a crime. He was persecuted by the Biden administration,” Trump said.
Democratic Rep. Maxine Waters accused Trump of <a href="https://cointelegraph.com/news/trump-accused-of-rewarding-crypto-criminals-after-pardoning-binance-s-cz" rel="noopener noreferrer nofollow">entering into a “pay-to-play” agreement</a>, pardoning CZ in exchange for crypto investments into projects and platforms associated with the Trump family, including World Liberty Financial (WLFI).
<figure>
 <img alt="Changpeng Zhao, US Government, United States, Donald Trump" src="https://s3.cointelegraph.com/uploads/2025-11/019a6540-b94e-791a-a436-3b25e6acc696" title="">
 <figcaption style="text-align: center;">
 A letter from Democratic lawmakers scrutinizing the pardon. Source: <a href="https://www.banking.senate.gov/imo/media/doc/letter_to_doj_treasury_re_binance_pardon.pdf" rel="noopener noreferrer nofollow" target="_blank">US Senate</a>
 </figcaption>
</figure>
The allegations also prompted several Democratic lawmakers, including Massachusetts senator Elizabeth Warren and Vermont senator Bernie Sanders, to pen an open <a href="https://www.banking.senate.gov/imo/media/doc/letter_to_doj_treasury_re_binance_pardon.pdf" rel="noopener noreferrer nofollow" target="_blank">letter</a> to attorney general Pam Bondi, scrutinizing Trump and the pardon.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/financial-nihilism-crypto-over-dream-big-again/" rel="noopener noreferrer nofollow">Financial nihilism in crypto is over — It’s time to dream big again</a>

CZ says he was surprised by pardon, denies ties to Trump family

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