Binance's CZ Counters Warren's Claims Post Trump Pardon

Binance's CZ Challenges Warren's Accusations

Changpeng "CZ" Zhao, co-founder of Binance, has disputed allegations made by US Senator Elizabeth Warren. Warren claimed Zhao "pleaded guilty to a criminal money-laundering charge," a statement Zhao rebuffed, emphasizing the absence of such charges.

In a recent X post, Zhao clarified that he pleaded guilty to violating the US Bank Secrecy Act by not implementing an effective Anti-Money Laundering (AML) program, resulting in a four-month sentence. This detail was overlooked in Warren's public statement.

Trump's Pardon and Binance's Reaction

Zhao received a presidential pardon, confirmed by Binance, after serving his sentence. Despite accusations from social media users of "playing semantics," Zhao maintains that he accepted responsibility for compliance oversights, not money laundering.

Warren and Waters Criticize Trump

Senator Warren accused Zhao of supporting Trump through stablecoin financing and lobbying for a pardon. Warren's sentiments were echoed by Representative Maxine Waters, who criticized Trump's pardon of Zhao as "favoring crypto criminals."

These developments coincide with reports of Trump's increased wealth, allegedly linked to his crypto ventures, raising concerns over potential conflicts of interest.