Some of Capitol Hill’s most prominent GOP crypto lawmakers are staying mum on President Donald Trump’s controversial decision to pardon Binance founder Changpeng Zhao — even those who previously condemned the international crypto exchange.
Sen. Bill Hagerty (R-Tenn.) warned about Binance’s ties to the Chinese Communist Party in 2022. Sen. Cynthia Lummis (R-Wyo.) and Rep. French Hill (R-Ark) urged the Biden-era Justice Department to crack down on Binance in 2023 for “knowingly allowing its exchange to be used by terrorist organizations.”
And in 2024, Zhao pled guilty to failing to implement anti-money laundering controls at Binance. The company went on to facilitate billions in illicit finance.
In the face of a presidential pardon, these lawmakers are letting bygones be bygones. “Well, the president has pardon authority,” Lummis told us on Tuesday.
