Donald Trump’s claim that he didn’t know a money-laundering crypto boss to whom he gave a pardon sparked open laughter on CNN—at the expense of one of the president’s most loyal defenders.
Trump last month pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance, who served four months in prison in 2024 after pleading guilty to money laundering. His company paid more than $4 billion, and Zhao personally paid a $50 million settlement, as part of the conviction.
Trump was asked about Zhao’s pardon on CBS News’ 60 Minutes on Sunday, where he claimed not to know who Zhao was, despite having wiped out his crime. Some analysts have found those claims hard to believe because Binance invested $2 billion in World Liberty Financial, the Trump family’s cryptocurrency business, and Zhao had hired lobbyists to persuade Trump to grant him a pardon.
Even still, GOP strategist Scott Jennings defended the pardon on CNN’s NewsNight with Abby Phillip on Monday. Jennings argued that Trump likely didn’t “personally” know Zhao.
This earned him double-barreled mockery from other panel members. Florida Rep. Jared Moskowitz and David Hogg, president of Leaders We Deserve, went in on Jennings’ defense.
“It’s totally above board, obviously!” Hogg interjected.
“There’s nothing to see here, guys,” Moskowitz said. “‘A’ for effort.”
Towards the end of the segment, Hogg dunked on Jennings for a second time as he ranted about New York City mayoral candidate Zohran Mamdani. “I mean, it‘s a Democrat town and they‘re going to elect a socialist to run the financial capital of the world. I mean, you know, you gave him 300 grand. Interesting. That‘s probably the only 300 non-Islamic Marxist grand that he got,” Jennings said, gesturing towards Hogg.
Hogg didn’t take the rebuke lying down, snapping back: “Honestly, I think part of the reason he‘s so powerful is because people are tired of being lectured by men with Rolexes on CNN about affordability in this country. That‘s the real reason he is resonating right now, because he has a clear message that actually says, ‘This is what I plan to do.’”
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