The White House is standing by President Donald Trump’s decision to pardon Binance founder Changpeng “CZ” Zhao, describing it as a “serious” and well-reviewed act of clemency, even as the move faces mounting scrutiny from lawmakers and ethics watchdogs.

Press secretary Karoline Leavitt, speaking to reporters, clarified the president’s remarks from his CBS 60 Minutes interview in which he said he “did not know” Zhao, who had been convicted in 2023 for violating U.S. anti-money-laundering laws.

“He means he does not know him personally. He does not have a personal relationship with this individual,” Leavitt said. “And when it comes to pardons, the White House takes them with the utmost seriousness. The president understands the responsibility that he has as president to issue clemency and issue pardons to individuals who are seeking that.”

A Thorough Review Process

Leavitt emphasized that Zhao’s pardon followed a structured review that involved both the Department of Justice and the White House Counsel’s Office.

“There’s a whole team of qualified lawyers who look at every single pardon request that ultimately make their way up to the president of the United States,” she said. “He’s the ultimate final decision maker.”

According to Leavitt, Trump’s decision reflected his broader commitment to reviewing cases he believes were “abused and used by the Biden Department of Justice.”

“The president was very clear when he came into office that he was most interested in looking at pardoning individuals who were over-prosecuted by a weaponized DOJ,” she added. “And the individual you’re referring to—that was certainly the case.”

Correcting a Wrong

Zhao pleaded guilty in 2023 to failing to maintain an effective anti-money-laundering program at Binance. He paid a $50 million fine and served four months in prison, while the exchange agreed to a $4.3 billion settlement with U.S. authorities.

Leavitt argued that even the presiding judge criticized the government’s approach.

“Even the judge in his case said that the sentencing the Biden administration was asking for was egregious and went too far,” she said. “And so the president is correcting that wrong, and he has officially ended the Biden Administration’s war on the cryptocurrency industry. I think that’s the message he sent with this pardon.”

Broader Implications

The decision has stirred sharp debate. The pardon could be a potential turning point—one that could either ease long-standing regulatory tensions.

Trump’s framing of Zhao’s case as a product of “prosecutorial overreach” also appears to align with a broader political effort to reconnect with digital asset firms that felt sidelined under previous administrations.

For its part, the White House insists the decision was driven by legal review, not personal ties. As Leavitt reiterated, “The president doesn’t know Mr. Zhao personally. He simply believes in correcting injustices, and in restoring fairness where the justice system overstepped.”