President Donald Trump’s decision to pardon Changpeng Zhao, the founder and former CEO of Binance, has triggered a wave of controversy. The White House administration emphasizes that Zhao’s pardon was handled with utmost seriousness, undergoing a thorough review process by both the US Department of Justice (DOJ) and the White House Counsel’s office. 60 Minutes conducted an interview with President Trump on the matter, which saw him admit to having no knowledge of Zhao despite issuing the pardon. Zhao was convicted for violating the Bank Secrecy Act by failing to implement controls that prevented illicit activity on his platform. He received a four-month prison sentence and relinquished his position as CEO at Binance.