Executive Summary
- President Trump stated he had limited knowledge of his pardon of Binance founder Changpeng Zhao, claiming he didn’t know Zhao and knew “nothing about it.”
- House Republicans previously criticized President Biden for allegedly being disengaged from his own pardon decisions, questioning their validity and his awareness.
- The pardon of Changpeng Zhao is controversial due to Binance hosting the Trump family’s crypto firm, World Liberty Financial, and serving as a platform for their tokens, raising potential conflicts of interest.
The Story So Far
- The current controversy stems from President Donald Trump’s stated limited knowledge regarding his recent pardon of Changpeng Zhao, founder of Binance, which directly parallels earlier criticisms by House Republicans who questioned President Joe Biden’s awareness and engagement in his own pardon decisions. This situation is further complicated by the fact that Binance, the company founded by Zhao, hosts the Trump family’s crypto firm, raising concerns about potential conflicts of interest surrounding the pardon.
Why This Matters
- President Trump’s admission of limited knowledge regarding his pardon of Changpeng Zhao, founder of Binance, significantly complicates Republican criticisms of President Biden’s pardon practices, creating a perceived double standard in presidential accountability that undermines the GOP’s previous messaging and intensifies scrutiny on the integrity and potential conflicts of interest surrounding executive clemency, particularly given the Trump family’s financial ties to Binance.
Who Thinks What?
- House Republicans, including past statements by Donald Trump, criticized President Joe Biden for allegedly being disengaged from his pardon decisions, suggesting he lacked knowledge of the individuals or categories being pardoned and that this called the validity of his pardons into question.
- President Donald Trump stated he had limited knowledge regarding his pardon of Changpeng Zhao, claiming he didn’t know who Zhao was and knew “nothing about it,” emphasizing his reliance on advice from others who presented Zhao as a “victim.”
- Critics view the pardon of Changpeng Zhao as controversial due to potential conflicts of interest, citing the financial connections between Binance and the Trump family’s crypto firm, and draw comparisons to other historically controversial pardons.
President Donald Trump has stated he had limited knowledge regarding his recent pardon of Changpeng Zhao, founder of the cryptocurrency exchange Binance, a claim that draws parallels to earlier Republican criticisms of President Joe Biden’s own pardon practices. Trump’s remarks, made during a “60 Minutes” interview and on October 23, come as House Republicans previously questioned Biden’s awareness of his pardons, suggesting a potential double standard in presidential accountability.
GOP Criticism of Biden’s Pardons
House Republicans previously issued a report last week suggesting President Biden was not fully engaged in presidential decision-making, specifically citing his pardons as evidence. The House Oversight Committee’s report claimed Biden appeared so disengaged that it called into question “the validity of all pardons reportedly granted” by him. House Speaker Mike Johnson amplified these concerns, stating Biden mass-pardoned individuals without knowing “what the categories were apparently — much less the individual people that he pardoned.”
The report also faulted the Biden administration for providing the Democratic president with talking points for controversial pardons, intimating that this suggested Biden had not played a major role. House Oversight Committee Chairman James Comer suggested that pardons being presented to Biden in memo form indicated insufficient involvement. President Trump himself previously criticized Biden in March, stating, “I would say that they’re null and void, because I’m sure Biden didn’t have any idea that it was taking place.”
Trump’s Statements on Zhao Pardon
In contrast to the GOP’s stance on Biden, President Trump recently indicated a lack of familiarity with his own pardon of Changpeng Zhao. During a “60 Minutes” interview aired Sunday, Trump stated, “I don’t know who he is,” and soon added that he knew “nothing about it,” emphasizing reliance on advice from those around him. He said he was told Zhao was a “victim” of the Biden administration and that “what he did is not even a crime.”
Earlier, on October 23, the same day the pardon was issued, Trump also demonstrated a lack of immediate recognition when CNN’s Kaitlan Collins questioned him about Zhao. He responded, “Oh, the recent one, yes,” and added, “I believe we’re talking about the same person, because I do pardon a lot of people,” despite Zhao being the only individual Trump had pardoned that week.
Controversy Surrounding Zhao’s Pardon
The pardon of Changpeng Zhao has drawn significant controversy due to potential conflicts of interest. Binance, the cryptocurrency exchange founded by Zhao, hosts the Trump family’s crypto firm, World Liberty Financial. This pardon could potentially allow Binance to resume operations in the United States.
Binance has also served as a substantial platform for the sale of World Liberty Financial’s proprietary tokens, which have reportedly generated hundreds of millions of dollars in fees for the Trump family. Critics have drawn comparisons between this pardon and some of the most controversial pardons in modern history, such as former President Bill Clinton’s pardon of billionaire fugitive Marc Rich.
Implications for Presidential Accountability
President Trump’s repeated statements disclaiming personal knowledge of the Zhao pardon complicate the Republican message regarding presidential decision-making, particularly concerning pardons. When pressed about the apparent similarities between the Oversight Committee’s allegations against Biden and Trump’s own remarks, House Speaker Mike Johnson demurred, stating he had not seen the interview and could not comment. Despite the apparent parallels in the executive’s stated knowledge of pardon decisions, it remains to be seen if a similar inquiry will be launched into Trump’s actions by the GOP-led House Oversight Committee.
