UPDATE: In a shocking revelation during a 60 Minutes interview that aired on October 22, 2023, President Donald Trump claimed he does not know who Changpeng Zhao, the founder of cryptocurrency exchange Binance, is—despite having issued a pardon last month for Zhao. This pardon followed Zhao’s guilty plea for violating anti-money laundering laws.
During the high-profile interview, Trump was questioned about his decision to pardon Zhao, whose company has significantly influenced crypto projects connected to the Trump family. Trump stated, “Okay, are you ready? I don’t know who he is… I know he got a four-month sentence or something like that and I heard it was a Biden witch hunt.” The interview, conducted by Norah O’Donnell, raised eyebrows as Zhao’s Binance facilitated a transaction worth $2 billion involving the Trump family-backed World Liberty Financial stable coin.
When pressed on the potential implications of this pardon, Trump deflected, saying, “Well, here’s the thing, I know nothing about it because I’m too busy.” He also noted, “My sons are into it. I’m glad they are, because it’s probably a great industry, crypto… they’re running a business, they’re not in government.”
The conversation then shifted to the ongoing government shutdown, poised to become the longest in U.S. history. Trump pointed fingers at the Democrats, asserting, “The Republicans are voting almost unanimously to end it, and the Democrats keep voting against ending it.” Despite the critical situation, Trump did not offer any actionable plans to resolve the impasse, suggesting instead that Democrats would eventually yield.
The President remarked, “And if they don’t vote, that’s their problem,” as he emphasized the Democrats’ demands to extend Affordable Care Act subsidies, set to expire at year’s end. Without this extension, millions could see their premiums double in 2024. Trump dismissed the ACA, labeling it “terrible” and “bad health care at far too high a price.”
When O’Donnell pressed for specific solutions, asking, “But where is that plan?” Trump failed to provide details, instead launching into critiques of the Democrats. He claimed, “they want to give money to prisoners, to drug dealers, to all these millions of people that were allowed to come in with an open border from Biden.” Notably, undocumented migrants are ineligible for Medicaid or to purchase insurance through the ACA.
This interview has raised significant questions about Trump’s connections to the cryptocurrency world and the implications of his recent actions. As the government shutdown looms, the urgency for bipartisan solutions increases. The political landscape is rapidly evolving, and it remains to be seen how these developments will impact the upcoming presidential election and the broader economy.
Stay tuned for more updates on this breaking story. The implications of Trump’s statements and the ongoing government shutdown could have far-reaching effects on both the political and economic fronts.
