Trump Is Rewriting History to Justify His Sketchy Pardon of a Crypto King

In a stunning move, former US President Donald Trump has granted a pardon to billionaire cryptocurrency founder Changpeng Zhao (CZ), sparking widespread criticism and accusations of corruption. Trump claimed that CZ was "persecuted" by the Biden administration as part of a war on cryptocurrency, but experts argue that this narrative is simply an attempt to justify a quid pro quo deal between Trump's family and CZ's business.

According to reports, CZ pleaded guilty under a carefully negotiated deal with former Attorney General Merrick Garland's Justice Department, which ultimately saw his company pay $4 billion in fines and serve only four months in prison. The fine was a small fraction of CZ's wealth, and he retained control of Binance, the largest cryptocurrency exchange in the world.

The pardon has raised eyebrows among critics of Biden's Justice Department, who had long complained about the administration's approach to corporate crime. In fact, progressive critics have argued that the deal was a sweetheart arrangement that allowed CZ to escape punishment for his company's alleged involvement in facilitating terrorism and child abuse images.

Trump's claim that the pardon was necessary to correct what he saw as an overreach by the Biden administration ignores the facts on the ground. Critics point out that prosecutions of corporate criminals fell to a record low during Biden's final year in office, and that Binance was one of the few companies to find itself in court.

Moreover, experts argue that Trump's pardon of CZ is part of a broader pattern of corrupt behavior by the former president and his family. The Trumps have jumped headfirst into cryptocurrency schemes themselves, relying on various ventures to boost their net worth. The latest move has been described as "unparalleled, open corruption" by one observer.

The pardon also raises concerns about the erosion of checks and balances in the US government. With Trump's pardons, court orders are being ignored, and MAGA loyalists have been put in charge of key agencies. This is a worrying trend that threatens the very foundations of American democracy.

As The Intercept notes, this is not hyperbole. The Biden administration is indeed under attack, with news outlets that challenge Trump being banished or investigated. The Department of Government Efficiency has stripped Congress of its power of the purse, and Trump's loyalists are flexing their muscles across the federal apparatus.

The situation demands urgent attention from the American public. We must not normalize Trump's authoritarian behavior, nor enable a culture of corruption and impunity. The Intercept will continue to cover this story, holding those in power accountable for their actions. Will you help us?

CZ's $4 billion fine seems like a joke compared to his actual wealth. I'm not surprised Trump would swoop in with a pardon. It's just business as usual for him and his family . Biden's Justice Department may have been soft on corporate crime, but this doesn't mean they were corrupt or under attack . Trump's pardons are a problem, no matter what the narrative says. If he thinks he's above the law, that's a bigger concern than any "quid pro quo" deal .

I'm really worried about this pardon thing... it feels like Trump's just giving away free passes to his buddies . I mean, $4 billion fine is nothing compared to CZ's wealth, and he still gets to run Binance? It's just not right . And what's with the "war on cryptocurrency" narrative? Sounds like Trump's trying to spin this as some kinda conspiracy . The fact that prosecutions of corporate criminals went down during Biden's final year in office just makes it all the more suspicious . We need to hold our leaders accountable for their actions, not let them play both sides against each other . This pardon is a huge red flag for American democracy... can't let this slide

Ugh just when u think its over for trump... CZ gets off scot free 4 billion fine & only 4 months in the can. what a joke . And now he's basically untouchable thanks to trump's pardon. This is like something out of a bad movie , where corruption knows no bounds and justice is just a distant memory

omg is trump seriously trying to set a bad example with his pardon of CZ like what even is the point of a pardon if it's just gonna enable more corruption? and ppl are saying that he's using this as leverage for quid pro quo deals between his fam and CZ's business but seriously, shouldn't we be worried about him manipulating the system like this?

I'm literally shook by Trump's pardon of CZ It's just so shady how he's trying to spin it as the Biden admin is 'persecuting' CZ but really it's all about the quid pro quo And what's even crazier is that experts think this might be part of a bigger pattern of corruption with the Trumps and their crypto schemes They're basically making it rain for themselves while we're left wondering if justice even matters anymore

This pardon is a total disaster! CZ got off scot-free with only 4 months in prison and $4 billion fines - that's like getting a slap on the wrist compared to his actual wealth . The fact that Trump claims it was an overreach by the Biden administration just shows how weak he thinks they are .

The stats are shocking: since Biden took office, corporations have paid 40% less in fines and 30% fewer people have been prosecuted for white-collar crimes . Meanwhile, Binance was one of the few companies to get slapped with a court order - what's even more disturbing is that Trump's pardons are now being used as leverage to silence his critics .

The chart shows how corrupt this whole thing is:

Corruption by Industry (2020-2025)

Bitcoin/Crypto: 75%
Finance/Banking: 60%
Healthcare: 40%
Technology: 30%

It's clear that the Trump administration has been engaging in quid pro quo deals and using executive power to line their own pockets . We need to hold them accountable for this kind of corruption!

i'm all about finding common ground here , but this pardon is super problematic. trump saying cz was persecuted by the biden admin just sounds like a big ol' excuse to me . it's not hard to see that this was a quid pro quo deal from day one. four months in prison and a $4 billion fine? that's basically a slap on the wrist . and now trump is claiming he had to pardon cz because of an "overreach" by the biden admin? come on, dude . we need to be talking about how this affects the rest of us, not just trump's pals .

Ugh, I'm so done with Trump's pardon spree . Like, what even is the point of having a Justice Department if they're just gonna let someone like CZ off scot-free because it's convenient for the ex-president and his family? It's just common sense that if you've been accused of doing some shady stuff, you should face consequences, not get pardoned out of thin air. And can we talk about how this pardon is basically a quid pro quo deal? Like, who does Trump think he is? The guy's been accused of corruption and now he's just gonna waltz in and give his buddy CZ a free pass? No thanks. This whole thing reeks of cronyism and corruption . And don't even get me started on the erosion of checks and balances - this is a huge problem that needs to be addressed ASAP .

I'm shocked that Trump thought he could just throw a bone to CZ and expect everyone to forget about the whole thing . Like, come on, $4 billion in fines is NOT a small fraction of his wealth! It's like asking me to give up my Xbox for a week as punishment .

And can we talk about how Trump thinks he's above the law? I mean, I know he's got some skeletons in his closet, but this pardon thing is just getting nutty . He's essentially saying that the Biden administration was out to get him and CZ, when really it looks like CZ was just trying to do his job without getting caught .

I'm also super concerned about what this says about our democracy. If Trump can just ignore court orders and grant pardons willy-nilly, what's next? Is he going to start making decrees and expecting everyone to follow them?

We need some serious pushback from the public and from Congress to make sure that Trump doesn't get away with this kind of thing. Otherwise, we're basically handing him a free pass to do whatever he wants without consequences

I'm still trying to wrap my head around this one... Trump granting a pardon to CZ is just crazy. I mean, what's next? Giving pardons to the people who made Bernie Madoff's Ponzi scheme possible And don't even get me started on the "persecution" narrative - it sounds like he's trying to spin this into some kind of conspiracy theory . I'm no expert, but it seems like CZ got off pretty easy considering how big his company is and how much they allegedly profited from facilitating child abuse images . This whole thing just smells like corruption to me... what are the chances that Trump's family has some sort of quid pro quo deal going on with CZ? Anyway, it's definitely a concerning trend for American democracy - I'm not sure how much more of this we can take before someone starts questioning our very way of life .

I'm so done with Trumps' antics he thinks he can just pardon his way out of trouble again and everyone just goes along with it? Like, no dude, we're not buying it this whole quid pro quo deal is a total mess and it's only going to get worse if we let him slide. The fact that the Biden admin was trying to crack down on corporate crime is admirable, but Trump's pardon is just another example of how he's trying to undermine the system And don't even get me started on the erosion of checks and balances - it's like he's playing a bad game of power struggles and we're all just watching

This pardon is like, super shady . Trump is basically saying that Biden's Justice Department was out to get CZ, but the truth is probably way more complex . I mean, $4 billion in fines and only 4 months in prison? That's not exactly a slap on the wrist . And now, with this pardon, CZ can just waltz back into the crypto scene without any consequences .

It's also super worrying that Trump is using this pardon to justify his own family's shady dealings . I mean, we all know about the Trump Empire and its... let's say, "creative" business practices . The fact that they're jumping headfirst into cryptocurrency schemes themselves? Red flag .

And then there's the broader implications of this pardon on our democracy . If we can't even trust the Justice Department to do its job, what's next? It's like, the more Trump does, the more he undermines the checks and balances that are supposed to keep him in check .

We need to stay vigilant and make sure that no one is above the law . The fact that news outlets that challenge Trump are being silenced or investigated? That's not okay . We need a free press, we need transparency, and we need accountability .

I don’t usually comment but I think it’s wild that Trump is going after Biden over some shady business deals now that he's outta office . The fact that CZ got off scot-free and Trump just pardoned him seems fishy to me . It looks like the rich and powerful are above the law, which is a real problem .

I mean, I get it, folks have been saying Biden's Justice Department has been soft on corporate crime, but now we're seeing that Trump himself is getting in on the action . It’s like, if you wanna play by different rules, don’t expect to be treated any differently when you're out of office .

And can we talk about how this pardon is affecting the checks and balances thing? I mean, if Trump's just going to ignore court orders willy-nilly and put his MAGA buddies in charge , it’s like he thinks he's above the law. That’s not exactly what our system of government was founded on .

I don’t know about you guys but this whole thing is making me super anxious . It feels like we're losing control of our institutions and it’s up to us, as citizens, to keep an eye on things .

I'm still trying to wrap my head around this whole pardon thing... it just feels like something out of an episode of "The West Wing" from back in the day . Remember when Bill Clinton got impeached and all that drama? This just seems like more of the same, but with cryptocurrency thrown into the mix .

And what's really getting to me is how this pardon is being seen as a huge deal, especially after Biden took office. I mean, didn't he promise to crack down on corporate crime or something? It feels like Trump is just trying to one-up Obama and get under his skin, which is just sad .

And have you seen the numbers they're talking about? $4 billion in fines for a company that's basically allowed to operate with impunity? That's just crazy! . I remember when Enron went down and it was such a huge scandal... how can this be so different, yet so similar? .

It's not just the pardon itself, though. It's what it says about our country right now. We're supposed to be this beacon of democracy and freedom, but it feels like we're sliding backwards .

I'm still trying to wrap my head around this pardon deal... it seems like Trump is just trying to cover his own tracks here . The whole thing about Biden's administration being "persecuted" by CZ just doesn't add up, if you ask me . It feels like a classic case of quid pro quo - Trump gets something in return for his family, and now he's trying to spin it as some kind of heroics .

And let's not forget the bigger picture here... this pardon is just one piece of evidence that suggests Trump's been playing fast and loose with the law all along . His family's gotten in on cryptocurrency schemes, and now he's trying to give a pass to CZ? It's just too suspicious .

What really bothers me, though, is how this pardon is affecting checks and balances in our government . When Trump starts ignoring court orders and putting his loyalists in charge of agencies... that's when you start to worry about the health of our democracy . We need to hold our leaders accountable for their actions, not let them sweep things under the rug .