U.S. Representative Maxine Waters has expressed strong disapproval regarding President Donald Trump’s pardon of Changpeng “CZ” Zhao, the co-founder of Binance, denouncing it as a corrupt action.
In a recent statement, Waters criticized Trump for granting the pardon, framing it as a favor to criminals within the crypto space. The pardon was issued after Trump stated that based on what he heard, Zhao’s actions were not criminal.
“Trump’s pardon of Binance founder Changpeng Zhao—who pleaded guilty to enabling money laundering and facilitating suspicious transactions—shines a light on the troubling aspects of his presidency,” Waters declared.
On the other hand, Trump argued that he believed Zhao was unjustly prosecuted by the Biden Administration, asserting that Zhao had not committed a crime.
Waters further stated that Zhao had spent considerable time lobbying Trump and his family while investing significantly in Trump’s crypto-related ventures, indicating that this pardon exemplifies the pervasive pay-to-play corruption of the Trump Administration.
Related news includes Waters’ additional remarks detailing the financial connections between Trump’s family and the decentralized finance company, World Liberty Financial, which has significantly contributed to the family’s wealth during Trump’s time in office.
