00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Donald Trump said he knows nothing about Binance founder Shang-Bang Zhao,
00:06despite pardoning him last month, according to CNBC. In a 60 Minutes interview,
00:10Trump said he was unaware of Zhao's identity or involvement in a crypto venture linked to his
00:14family. Zhao knows CZ stepped down as Binance CEO in 2023 and pleaded guilty to failing to
00:20prevent money laundering. He served four months in jail and was released in 2024.
00:25Trump said he pardoned Zhao to strengthen U.S. competitiveness in the crypto sector and accused
00:29the Biden administration of unfairly targeting him. The president said his sons are more involved
00:33in cryptocurrency than he is and emphasizing the U.S. must leave the growing industry or risk losing
00:38to other countries. Binance paid $4.3 billion in fines in 2023 and recently partnered with
00:44World Liberty Financial, a crypto firm tied to Trump's family. For all things money, visit Benzinga.com.
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