President Trump's recent pardon of billionaire cryptocurrency entrepreneur Changpeng Zhao has raised concerns about the president's use of the pardon power. The pardon was granted despite allegations that Zhao's company, Binance, had enriched a Trump family business, and that the businessman himself had caused significant harm to US national security.
Zhao is the founder of Binance, the world's largest cryptocurrency exchange. His company pleaded guilty in 2023 to failing to prevent money laundering on its platform and paid a $4 billion fine. Zhao served only four months in prison for the offense.
Critics argue that Trump's pardon of Zhao was influenced by his business interests and is an example of self-dealing. The president's family has a stake in World Liberty Financial, a cryptocurrency company that benefited from Binance's software support. This arrangement has raised concerns about conflicts of interest and corruption.
Lawrence Lessig, a Harvard law professor, says that the pardon is an example of "corruption" and that Trump's administration is using pardons to reward friends, allies, and donors. Elizabeth Oyer, a former head of pardons at the Justice Department, notes that the pardon power is a solemn instrument of the presidency that should be used for the public good, not personal gain.
The pardon has also raised questions about US foreign policy, particularly with regards to the Emirates' $2 billion investment in World Liberty Financial. The deal was announced just days before Trump signed Zhao's pardon, and critics argue that it may have been made as a quid pro quo to secure the businessman's pardon.
While Trump denied knowing Zhao, his comments on Air Force One suggested otherwise, stating that he had not met the businessman but had received support from "a lot of good people." However, former constitutional scholar Michael Gerhardt argues that this is not enough to shield the president from charges of self-dealing and conflict of interest.
The pardon has sparked debate about the limits of presidential power and the corrupting influence of money in politics. Critics argue that Trump's administration is undermining the integrity of the pardon system and compromising the public good for personal gain.
Zhao is the founder of Binance, the world's largest cryptocurrency exchange. His company pleaded guilty in 2023 to failing to prevent money laundering on its platform and paid a $4 billion fine. Zhao served only four months in prison for the offense.
Critics argue that Trump's pardon of Zhao was influenced by his business interests and is an example of self-dealing. The president's family has a stake in World Liberty Financial, a cryptocurrency company that benefited from Binance's software support. This arrangement has raised concerns about conflicts of interest and corruption.
Lawrence Lessig, a Harvard law professor, says that the pardon is an example of "corruption" and that Trump's administration is using pardons to reward friends, allies, and donors. Elizabeth Oyer, a former head of pardons at the Justice Department, notes that the pardon power is a solemn instrument of the presidency that should be used for the public good, not personal gain.
The pardon has also raised questions about US foreign policy, particularly with regards to the Emirates' $2 billion investment in World Liberty Financial. The deal was announced just days before Trump signed Zhao's pardon, and critics argue that it may have been made as a quid pro quo to secure the businessman's pardon.
While Trump denied knowing Zhao, his comments on Air Force One suggested otherwise, stating that he had not met the businessman but had received support from "a lot of good people." However, former constitutional scholar Michael Gerhardt argues that this is not enough to shield the president from charges of self-dealing and conflict of interest.
The pardon has sparked debate about the limits of presidential power and the corrupting influence of money in politics. Critics argue that Trump's administration is undermining the integrity of the pardon system and compromising the public good for personal gain.
. A billionaire crypto guy gets a pardon from Trump just because his family has a stake in another company? That's like my cousin giving me a free lawn mower if he thinks I'll mow his grass for him 
. What's next? The president pardoning himself to avoid going to jail for embezzling all the pension funds? 
No seriously though, this is what worries me - the idea that power and money can be used to get away with pretty much anything.
. Can't believe how much money can influence politics these days. And what's with all the "I didn't know him" denials? Give me a break! 
I think what's really going on here is a classic case of how unchecked power can lead to abuse 
. When someone gets too close to the presidency, their motivations and actions become clouded by self-interest 
. We need to remember that the pardon power is meant to be used for justice, not personal gain 
. The fact that Trump's family has a stake in World Liberty Financial just makes it look like he's using his power to benefit friends and allies, which isn't right 
. We have to hold our leaders accountable for their actions and make sure they're making decisions that serve the public good, not just themselves 
. It's a reminder that power comes with great responsibility, and we should all be vigilant in holding those in power to high standards 
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I'm literally speechless, how could the president do this?! Changpeng Zhao got off scot-free for allegedly harming US national security but his own family business gets a huge boost from it? It's just not right 
Trump's gotta answer for this one. I mean I get it, he's trying to line up some favors with the Emirates and whatnot, but does it have to be at the expense of integrity? The whole pardon power thing is like super serious, you know? We need better than this 
Meanwhile, we're still talking about the real corruption - like how the Emirates invested millions in this crypto company just before Trump gives it a free pass? 
What do you think is really going on here? Is it all just a big coincidence or is there more to it? 
. And let's be real, Trump's always been all about looking out for his own interests, so it's hard to trust him on this one 
. And Trump's denial that he knew Zhao is just not convincing 
. It's all about the Benjamins, folks 
. We need to keep an eye on our leaders and make sure they're not being swayed by special interests or corruption 
!
. And don't even get me started on the timing - it seems like the Emirates were trying to sweeten the deal by investing in this company that Trump's family has a stake in 
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. What really worries me is that this sets a bad precedent for future presidents - if they can just give pardons to their pals whenever they want, who's going to stand up for what's right? It's all about the Benjamins, baby