Crypto founder pardoned by Trump denies having ties to president's family

The convicted founder of Binance, the world’s largest crypto exchange, said he was "a little bit surprised" by President Donald Trump's pardon of him on "Special Report" Friday.

"We have never met," former Binance CEO Changpeng "CZ" Zhao told "Special Report" anchor Bret Baier in an exclusive interview. "We have never talked." 

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In 2023, Zhao pleaded guilty to a money-laundering–related charge. He served a four-month prison sentence under the Biden administration. President Donald Trump pardoned him Oct. 21, according to the Department of Justice.

White House press secretary Karoline Leavitt touted Trump’s pardon as "officially end[ing] the Biden administration’s war on the cryptocurrency industry."

On Sunday, Trump said in a "60 Minutes" interview he does not know Zhao. 

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The cryptocurrency founder similarly denied having ties to the Trump family, despite The Wall Street Journal attributing Zhao’s pardon to Binance’s alleged "deal" with the Trumps’ cryptocurrency project, World Liberty Financial.

"That’s completely not accurate," Zhao said on "Special Report." "There’s no deal, there has never been any discussions. It's as simple as that."

However, Zhao said he met American Bitcoin co-founder — and Trump's son, Eric Trump — once at the Bitcoin MENA conference in Abu Dhabi. 

Zhao called the WSJ’s reporting "categorically false," denying any business relationships with Trump’s sons. 

He also addressed why he pleaded guilty to a violation of the Bank Secrecy Act, which included failure to properly implement an effective anti-money-laundering program. 

"I think it’s the best way to confront the problem and solve it head-on," he said, later adding: "I do not have anything to debate on the charges." 

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Zhao cited Trump’s GENIUS Act, which defined federal regulations for cryptocurrency, as a marker of the U.S. "leading" in crypto rules.

"The more clarity we have in the industry, the better," Zhao argued. 

 "I think in the last administration, even when I was charged and even when I pleaded guilty, there wasn't any clear regulatory frameworks for crypto in the U.S., so I think now it's getting much clearer, and U.S. is definitely leading," he added.

The Wall Street Journal responded to Zhao’s comments, telling "Special Report," "We stand by our reporting." Both Fox News and The Wall Street Journal are owned by News Corp. 

The Hitchhiker’s Guide to a potential procedrual vote on an interim spending bill

Fox has learned that Senate Republicans are hopeful that just enough Senate Democrats may be willing to join with them to help break a filibuster on a test vote to fund the government through sometime in January. This proposal would also fund the Department of Agriculture and Department of Veterans Affairs, plus, Congress until Sept. 30, 2026.

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If Republicans are able to coax enough Democrats to vote yes, the Senate could vote as early as tomorrow to break a filibuster on this combination bill. That would require 60 yeas.


However, what is unclear is the status of Obamacare subsidies. Democrats have balked at the lack of a concrete remedy to spiking health care premiums.

"They’re looking for an off-ramp," said one Senate source familiar with the Democrats’ thinking.

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Fox is told that air traffic control and flight delays are a major consideration in the thinking of the Democrats.


It is believed that the Senate GOP leadership is reluctant to force a vote related to the combination spending bill on the floor without a guarantee it could break a filibuster.

One Senate source told Fox it would be "bad form at this stage" to endure a failed procedural vote on a plan which Republicans believe is the only way out of the government shutdown cul-de-sac.

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Moreover, a break by these Democrats without an agreement on health care would be a blow to progressives and Senate Minority Leader Chuck Schumer (D-N.Y.). It would also mark the first true progress toward re-opening the government.


If enough Democrats are yeas, Fox is told the Senate could take a test vote on Saturday night. By the book, if the Senate breaks the filibuster, the Senate may not be able to take a final vote on the package until sometime Monday or Tuesday.  But Fox is told there is a distinct possibility that Democrats could yield back time to expedite the process.

If the Senate were to approve the deal, it’s on to the House. But the House’s disposition is unclear on this legislation. And the House would not even consider this plan until the middle of next week at the earliest.

However, if the House aligns with the Senate, the government would re-open — at least for a couple of months.

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