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Congresswoman Maxine Waters expressed strong criticism towards U.S. President Donald Trump in a statement on October 23 regarding his pardon of Binance founder Changpeng ‘CZ’ Zhao.
Congresswoman Criticizes Donald Trump Over Crypto Pardon
In a statement released on Thursday, Waters condemned the Trump administration’s choice as a means to “effectively legitimize the crypto offense for which CZ was convicted” and “granting him the freedom to continue running his crypto platform with nearly no safeguards to protect the hard-earned money of ordinary investors.”
“While the government remains closed, federal employees are unpaid, and Americans witness their healthcare expenses soar, Donald Trump shows no willingness to engage with Democrats to reopen the government and alleviate the suffering of Americans,” Waters stated. “Instead, Trump is providing significant favors to crypto offenders who have contributed to his financial gains.”
“Trump’s pardon of Binance founder Changpeng Zhao—who admitted guilt to facilitating money laundering and enabling dubious transactions involving child abusers, drug traffickers, and terrorists—is a shocking yet predictable illustration of his presidency: one characterized by corruption, self-serving interests, and allegiance to criminals over working-class American families,” she continued.
CZ Expresses Gratitude to Trump for Pardon of 2023 Conviction
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The announcement of Trump pardoning the former Binance CEO emerged on Thursday, leading to a mix of commendation and criticism from the public and U.S. legislators.
Deeply appreciative of today’s pardon and to President Trump for reinforcing America’s dedication to fairness, innovation, and justice.
We will do everything possible to help establish America as the Capital of Crypto and promote web3 globally.
(Still in transit, more updates to follow.)…— CZ
BNB (@cz_binance) October 23, 2025
Zhao admitted guilt to money laundering offenses at the crypto exchange in 2023.
Binance consented to pay over $4 billion in forfeiture, while Zhao was mandated to pay $50 million in fines to settle the significant crypto case.
The Binance founder also agreed to resign from his position as Binance CEO, although this week’s presidential pardon may allow him to reclaim that role.
“Deeply appreciative of today’s pardon and to President Trump for reinforcing America’s dedication to fairness, innovation, and justice,” Zhao stated in an October 23 post on X. “We will do everything possible to help establish America as the Capital of Crypto and promote web3 globally.”
The post Rep. Maxine Waters Critiques Trump’s CZ Pardon In Strong Statement appeared first on Cryptonews.
