In a recent expos, President Donald Trump granted a pardon to Changpeng Zhao, the founder of the Binance cryptocurrency exchange, following Zhao's alleged financial contributions to the Trump family's ventures into the crypto market.
This revelation was brought to light during a segment led by correspondent Scott Pelley.
According to Mediaite, Pelley reported that Zhao's company played a pivotal role in supporting a Trump family enterprise at crucial junctures, culminating in the presidential pardon issued in October 2025. Zhao, who had been incarcerated for four months on charges related to anti-money laundering, was released in September 2024.
Pelley conducted an interview with Elizabeth Oyer, a former Pardon Attorney at the Justice Department, who was appointed by President Joe Biden in 2022. Oyer, who was replaced earlier this year by a "Trump loyalist," was asked whether Zhao's pardon was "unusual."
Oyer remarked, "The influence that money played in securing this pardon is unprecedented. The self-dealing aspect of the pardon, in terms of the benefit that it conferred on President Trump and his family and people in his inner circle, is also unprecedented."
Pelley further disclosed that Zhao had "donated software" to World Liberty Financial, a crypto company with close ties to Eric Trump and Donald Trump Jr., to aid the Trump family's cryptocurrency launch. "The next month, Changpeng Zhao applied for a presidential pardon," Pelley added.
Reuters recently highlighted that Eric Trump and Donald Trump Jr. amassed over $800 million from crypto asset sales in the first half of 2025. Pelley also noted that a fund from the United Arab Emirates invested $2 billion into Binance, choosing to do so with World Liberty crypto, a decision one source described as "nuts."
Harvard Law professor Lawrence Lessig provided further insight, stating, "The only reason it makes sense is to ingratiate with the president." When Pelley inquired if the president was "compromised," Lessig affirmed, "'Compromised' is exactly the description, because we cant know whats the actual reason for the decisions that the administration is making. Are the reasons helping America? or are the reasons helping America and also helping them privately?"
The Emirati investors justified their decision by citing "business suitability." This segment is particularly noteworthy as it follows President Trump's first interview with 60 Minutes after resolving his lawsuit against the program and CBS. During a commencement address at Wake Forest University in May, Pelley cautioned that "freedom of speech is under attack" and that "insidious fear" had permeated society during the early months of President Trump's second term.
As the narrative unfolds, questions linger regarding the motivations behind the pardon and the broader implications for the Trump administration. The intertwining of financial interests and political decisions continues to be a focal point of scrutiny, raising concerns about the potential impact on governance and transparency.
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