UPDATE: In a shocking revelation during a 60 Minutes interview that aired on October 15, 2023, President Donald Trump stated he does not know who Changpeng Zhao, the founder of Binance, is—despite having issued a pardon for the crypto billionaire just last month. This statement raises questions about his connections to the cryptocurrency industry and his administration’s dealings.
During the interview, Norah O’Donnell pressed Trump on his pardon of Zhao, who pleaded guilty to violating anti-money laundering laws. The President remarked, “Okay, are you ready? I don’t know who he is…I know he got a four-month sentence or something like that and I heard it was a Biden witch hunt.” This comment comes despite Binance facilitating a staggering $2 billion purchase of the Trump family-backed World Liberty Financial’s stablecoin.
When questioned about the implications of his pardon, Trump dismissed concerns, stating, “I know nothing about it because I’m too busy.” He added that his sons are actively involved in cryptocurrency, which he believes is a promising industry. Trump’s apparent disconnect from major business dealings raises eyebrows among critics and supporters alike.
In addition to discussing Zhao, Trump addressed the ongoing government shutdown, which is poised to become the longest in U.S. history. He placed blame on the Democrats, claiming, “The Republicans are voting almost unanimously to end it, and the Democrats keep voting against ending it.” Notably, Trump did not provide a plan to resolve the shutdown but suggested that he expects Democrats will eventually relent. “And if they don’t vote, that’s their problem,” he added.
Democrats are demanding that any agreement to fund the government include an extension of Affordable Care Act (ACA) subsidies, which are set to expire at the end of the year. Failure to extend these subsidies could lead to a dramatic increase in healthcare costs for millions. Trump criticized the ACA, calling it “terrible” and “bad health care at far too high a price,” asserting that a bipartisan effort could lead to better healthcare solutions.
When pressed by O’Donnell about a concrete plan to improve healthcare, Trump avoided specifics, claiming that Democrats prioritize funding for “prisoners, drug dealers, and millions of people that were allowed to come in with an open border from Biden.” It’s important to note that undocumented migrants are currently ineligible for Medicaid or to purchase insurance through the ACA, a fact often overlooked in political rhetoric.
As the nation grapples with the implications of Trump’s statements and the ongoing government shutdown, the fallout from this interview will likely resonate in political discussions and public opinion. Stay tuned for updates on this developing story and its impact on both the cryptocurrency market and U.S. governance.
