Venture capitalist and Trump supporter Joe Lonsdale criticized President Donald Trump’s decision to pardon Binance founder Changpeng Zhao, calling it a “terribly advised” move that risks appearing corrupt. “I love President Trump; this is possibly the greatest admin of my lifetime — except for these pardons,” Lonsdale wrote on X Thursday, adding that “it makes it look like massive fraud is happening around him.”
Zhao pleaded guilty in 2023 to failing to maintain anti–money laundering controls and served four months in prison. Binance paid $4.3 billion to settle related charges with the Justice Department. The White House framed Zhao’s pardon as reversing a “Biden Administration war on cryptocurrency.”
Critics, including Senators Elizabeth Warren and Adam Schiff, condemned the pardon. Schiff accused Trump of using clemency powers “to reward wealthy donors and allies.” The backlash intensified after reports that Binance had partnered with Trump’s family venture, World Liberty Financial, and received $2 billion from the Emirati firm MGX.
Trump’s recent clemency actions have drawn repeated scrutiny, including the commutation of former Rep. George Santos’ sentence last week.
Sources:
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
