WASHINGTON / LONDON (IT BOLTWISE) – The surprise pardon of Binance co-founder Changpeng Zhao by former US President Donald Trump is causing a stir. While the crypto community celebrates the decision as a victory, critics accuse Trump of political corruption. CZ emphasizes that there are no business ties to the Trump family.
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The pardon of Changpeng Zhao, better known as CZ, by former US President Donald Trump has caused a stir in the crypto community. CZ, co-founder of the world’s leading cryptocurrency exchange Binance, expressed surprise at the decision and emphasized that he has no business relationships with the Trump family. In an interview, CZ stated that he had never met Trump in person and had only spoken to his son Eric once at a conference in Abu Dhabi.
The decision to pardon CZ was seen by many in the crypto industry as a sign of support for the industry, especially given the Biden administration’s perceived restrictive policies toward cryptocurrencies. Critics, however, including prominent Democratic politicians, accuse Trump of using the pardon as part of a “pay-to-play” mechanism to encourage investments in projects linked to his family.
Trump himself stated in a press conference that he did not know CZ personally, but he was advised that the allegations against him were politically motivated. He emphasized that CZ was persecuted by the Biden administration even though he committed no crime. These statements have further fueled the controversy surrounding the pardon and led to intense debate about the role of cryptocurrencies in politics.
The allegations of political corruption have prompted several Democratic lawmakers to write an open letter to the attorney general seeking an investigation into the circumstances surrounding the pardon. The discussion surrounding CZ’s pardon highlights the increasing intertwining of politics and cryptocurrencies and the associated ethical questions.
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