Trump Defends Binance CEO Pardon to Secure US Crypto Leadership Amid Global Competition

President Donald Trump reaffirmed his commitment to maintaining U.S. dominance in the cryptocurrency sector during a 60 Minutes interview, emphasizing the industry's critical importance akin to artificial intelligence and framing it as a winner-takes-all global competition where the U.S. currently leads. Trump highlighted China’s growing crypto initiatives as a challenge and credited his sons' involvement in the industry as indicative of its growth and potential. He also defended his controversial pardon of Binance founder Changpeng Zhao, who had been convicted of money laundering and other offenses; the pardon followed lobbying efforts and Zhao's support for Trump-linked crypto ventures. Critics questioned the pardon, pointing to Trump's admitted lack of detailed knowledge about Zhao's conviction during the interview, which raised concerns about the motivations behind the pardon. Analysts suggest that Trump's support for crypto is driven in part by its alignment with his political interests and financial benefits, contrasting it with the previous administration's stance. The situation underscores the intertwining of political influence, personal financial interests, and the evolving landscape of cryptocurrency regulation.