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Topics: Donald Trump, News, Politics, US News
Rhianna Benson
Topics: Donald Trump, News, Politics, US News
Critics have called for Donald Trump's removal from the Oval Office this week, after he admitted to pardoning a federal money launderer and cryptocurrency tycoon despite having 'no idea' who he was.
Changpeng Zhao (also known as 'CZ'), a Canadian businessman and the founder of Binance - one of the world's largest cryptocurrency exchanges - was first brought to the attention of the US Department of Justice in 2023.
The 48-year-old was accused at the time of violating both the Bank Secrecy Act and the International Emergency Economic Powers Act, by failing to set up an adequate anti-money-laundering (AML) programme for his tech firm.
It was also found that Binance had failed to report dodgy transactions had between terrorist groups including Hamas and al-Qaeda.
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Zhao pled guilty and resigned as the company's CEO, agreeing to pay a staggering $4.3 billion to American authorities, as well as a personal fine. He was also sentenced to four months in prison, serving his time in 2024.
Last month, however, President Trump issued 'CZ' with a full and unconditional presidential pardon for his federal conviction.
The controversial decision was justified by the White House officials on the basis of branding the crime an 'overreach' made by Joe Biden's previous administration, as well as in support of innovation in cryptocurrency.
Unsurprisingly, the pardon sparked nationwide backlash upon its announcement, with critics complaining that it demonstrates a conflict of interest, given the ongoing business deals being made between Zhao and representatives of World Liberty Financial.
For those unfamiliar with the latter organisation, it's the name for the cryptocurrency company owned by - wait for it - the Trump family.
What has apparently upset onlookers even more severely, however, isn't the pardon itself, but a remark made by the Republican leader this week, during which he claimed he had 'no idea' about Zhao's life or crimes.
Giving an interview with CBS' 60 Minutes, 79-year-old Trump was asked why he'd pardoned 'CZ', despite the billionaire inflicting 'significant harm' to the US' 'national security' - a claim first made by prosecutors.
Responding, the President confessed: "OK, are you ready? I don’t know who he is."
Trump went on to admit he had never met Zhao, and had 'no idea' who he was outside of his position as a crypto boss.
Elsewhere, the right-wing politician expressed sympathy towards the convicted criminal, describing him as the victim of a 'witch hunt' fronted by his presidential predecessor, Joe Biden.
As we say, however, a number of people have recently voiced their outrage over Trump's dismissal of the financial criminal's case.
"The biggest story in the country right now should be Donald Trump admitting he has no idea who he's pardoning—and that he only pardoned a crypto fraudster because his sons told him to," one X (formerly Twitter) user hit out.
"Could you imagine the reaction if Joe Biden admitted something like that?"
Sensing something suss, another suggested: "Trump keeps pardoning strangers who somehow make his family rich. Wild coincidence, right?"
"Should he not be impeached on this?" a third questioned. "This is by far the biggest act of corruption by any president."
A fourth went on: "He’s clearly not the one calling the shots in the Oval Office. A president who admits this shouldn’t remain in office."