In a recent interview on 60 Minutes, President Donald Trump stated he does not know who Changpeng Zhao, the founder of Binance, is, despite having granted him a pardon last month. Zhao, a prominent figure in the cryptocurrency industry, had pleaded guilty to violating anti-money laundering laws. During the broadcast, which aired on October 15, 2023, Trump discussed various pressing issues, including the ongoing government shutdown, immigration, and relations with China.
When asked about the pardon for Zhao, Trump responded, “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.” The interviewer, Norah O’Donnell, highlighted Binance’s significant role in facilitating a $2 billion acquisition of the Trump family-backed World Liberty Financial’s stablecoin. She questioned the implications of this connection, prompting Trump to assert, “Well, here’s the thing, I know nothing about it because I’m too busy.”
The President further commented on his family’s involvement in cryptocurrency, emphasizing, “My sons are into it. I’m glad they are, because it’s probably a great industry, crypto… they’re running a business, they’re not in government.”
Government Shutdown Blame Game
Turning to the subject of the government shutdown, which risks becoming the longest in U.S. history, Trump attributed responsibility to the Democratic Party. He stated, “The Republicans are voting almost unanimously to end it, and the Democrats keep voting against ending it.” Despite the escalating crisis, Trump did not outline a specific plan to resolve the shutdown, suggesting instead that he expects Democrats to relent.
Democrats have made it clear that any agreement to fund the government must include a commitment to extend subsidies for the Affordable Care Act (ACA), which are set to expire at the end of the year. Without this extension, many enrollees are projected to face premium increases of up to 100% next year. Trump criticized the ACA, commonly known as Obamacare, calling it “terrible” and “bad health care at far too high a price.”
He further commented, “We should fix that. We should fix it. And we can fix it with the Democrats. All they have to do is let the country open and we’ll fix it.” When pressed by O’Donnell about the lack of a concrete healthcare plan, Trump maintained his criticisms of Democrats, claiming they wish to provide financial support to “prisoners, drug dealers, to all these millions of people that were allowed to come in with an open border from Biden.”
Despite assertions from Trump and the Republican Party, it is important to note that undocumented migrants are ineligible for Medicaid and cannot purchase insurance through the ACA.
This interview not only underscores the complexities of Trump’s political landscape but also raises questions about the interplay between his business interests and his presidential duties. The responses provided by Trump reflect a broader narrative surrounding his administration’s policies and the challenges posed by bipartisan negotiations in an increasingly polarized political environment.
