Donald Trump Denies Ties to Chanpeng Zhao, Calls Binance Case a Political Target

He stated that he does not know Zhao personally and said the decision was not based on any political motives.

President Trump explained that he had heard that Zhao’s legal case was politically driven.

When asked directly whether he had any relationship with Zhao, President Trump said he had never met him and had only learned of the situation from others.

CBS anchor Norah O’Donnell pointed out reports that Binance

$17.17B

had helped fund a large stablecoin purchase tied to a group supporting President Trump. The president said:

I don’t know anything about that. I’ve been focused on other things.

When pressed further, President Trump shifted the discussion to his family’s interest in the crypto industry. He noted that his sons are active in the industry, which he supports, but he stated that they operate as private businessmen, not government officials.

Returning to Zhao’s case, President Trump suggested the Binance founder was unfairly targeted.

President Trump also said the US crypto industry has grown and is important to the country’s future. He emphasized that the US should remain a leader in crypto development, especially as countries like China increase their involvement.

Recently, Zhao has been looking into filing a defamation lawsuit against US Senator Elizabeth Warren. What did Zhao’s attorney, Teresa Goody Guillén, say? Read the full story.