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Julia Smith
Author
Julia Smith
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Congresswoman Maxine Waters had some choice words for U.S. President Donald Trump in an October 23 statement over his pardon of Binance founder Changpeng ‘CZ’ Zhao.
Congresswoman Blasts Donald Trump Over Crypto Clemency
In a Thursday statement, Waters slammed the Trump administration’s decision as a way to “effectively legitimize the crypto crime CZ was convicted of” and “giving him the green light to continue operating his crypto platform with virtually no guardrails to protect the hard-earned funds of everyday investors.”
“As the government remains shut down, federal workers go without pay, and Americans watch their health care costs skyrocket, Donald Trump continues to show no interest in negotiating with Democrats to reopen the government and relieve the pain Americans are feeling,” Waters said. “Instead, Trump is doing massive favors for crypto criminals who have helped line his pockets.”
“Trump’s pardon of Binance founder Changpeng Zhao—who pleaded guilty to enabling money laundering and facilitating suspicious transactions with child abusers, drug dealers, and terrorists—is an appalling but unsurprising reflection of his presidency: one defined by corruption, self-interest, and loyalty to criminals over working-class American families,” she added.
CZ Thanks Trump for Pardon of 2023 Conviction
News that Trump pardoned the former Binance CEO broke on Thursday, prompting a wave of both praise and scrutiny from the public and U.S. lawmakers.
Zhao pleaded guilty to money laundering violations at the crypto exchange back in 2023.
Binance agreed to pay over $4 billion in forfeiture, while Zhao was ordered to pay $50 million in fines in order to resolve the landmark crypto case.
The Binance founder also agreed to step down from his role as Binance CEO, though this week’s presidential pardon may open the doors for him to return to the position.
“Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice,” Zhao wrote in an October 23 X post. “Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.”
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