California Governor Slams Trump’s Crypto Pardons: CZ & Ulbricht Branded ’Criminal Cronies’
California's governor just fired a political torpedo straight at Trump's crypto clemency list—and the explosion's sending shockwaves through digital finance.
The 'Criminal Cronies' Label Sticks
Forget policy debates—this is political warfare with a crypto twist. The governor's office didn't mince words, slapping the 'criminal cronies' tag on two of the most polarizing figures ever granted presidential mercy. It's a direct challenge to the narrative that tech innovation should get a free pass from legal consequences.
The Finance Sector's Awkward Pivot
Traditional finance types are watching this drama unfold with mixed feelings—some see regulatory vindication, others see political theater muddying already complex waters. One cynical Wall Street analyst quipped it's 'the perfect hedge: blame crypto for society's problems while quietly increasing your own digital asset exposure.' The hypocrisy's thicker than a blockchain ledger.
Where Law Meets Code
This isn't just about past pardons—it's about drawing new battle lines for crypto's future. Every political jab reinforces the divide between those who see digital assets as liberation and those who see them as loopholes. The governor's move guarantees one thing: the 2025 crypto landscape will be shaped as much in political arenas as on trading floors.
The takeaway? In the high-stakes game of crypto legitimacy, political allies can become liabilities overnight—and today's pardon can become tomorrow's campaign attack ad.
As Violent Crime Drops Across California, Newsom Highlights Trump-Era Pardons
According to figures from the Major Cities Chiefs Association, homicides fell 18% year over year, robberies dropped 18%, aggravated assaults declined 9%, and violent crime was down in every major California city reporting data, with the sharpest decreases recorded in Oakland and San Francisco.
Against that backdrop, Newsom framed the website as a contrast between state-level crime reduction efforts and Trump’s record of pardons.
The page catalogs individuals who received clemency or protection from Trump, including figures from politics, organized crime, and the cryptocurrency sector.
The governor said the goal was to place public information in one location so voters could assess who is being elevated or shielded through presidential authority.
Crypto-related pardons feature prominently. The site lists Binance founder Changpeng “CZ” Zhao, who pleaded guilty in 2023 to violating the Bank Secrecy Act by failing to implement an adequate anti-money laundering program at the exchange.
Zhao was sentenced to four months in prison in April 2024 and released later that year. In October, TRUMP signed a full pardon, a move later confirmed by Binance.
The WHITE House said the decision followed a standard review by the Department of Justice and White House Counsel’s Office, with Trump stating publicly that he did not know Zhao personally.
The @WhiteHouse has defended Trump's @cz_binance pardon, calling it a correction for an "over-prosecution," and the decision followed a "thorough review" process. #Trump #Binance #CZhttps://t.co/3voAxijutA
The pardon triggered political backlash, with Democratic senators, including Elizabeth Warren and Bernie Sanders, accusing Trump of signaling leniency toward white-collar and crypto-related crimes.
Newsom’s website also references Ross Ulbricht, the founder of the Silk Road marketplace, who was sentenced to life in prison for narcotics and money-laundering conspiracy charges linked to more than $214 million in illegal drug sales facilitated through Bitcoin.
@RealRossU, pardoned founder of the Silk Road marketplace, is publicly advocating for clemency for @rogerkver, known as "Bitcoin Jesus."#RogerVer #Bitcoinhttps://t.co/nFhN9IIBdn
Trump pardoned Ulbricht for his 2015 conviction. In addition, the site highlights the March pardons of BitMEX co-founders Arthur Hayes, Benjamin Delo, Gregory Dwyer, and Samuel Reed, all of whom had pleaded guilty to Bank Secrecy Act violations.
Trump Says He Will Review Samourai Wallet Case, Rekindling Crypto Pardon Scrutiny
The debate intensified further this week after Trump said he was open to reviewing the case of Keonne Rodriguez, the CEO of privacy-focused Bitcoin wallet Samourai.
Rodriguez was sentenced last month to five years in federal prison after pleading guilty to money laundering charges tied to a bitcoin mixing service that prosecutors said processed $237 million in illicit funds.
US prosecutors are pushing for the maximum five-year prison sentence for the founders of @SamouraiWallet.#Crypto #Samouraihttps://t.co/N487Ab9t1c
Beyond crypto, Newsom’s website lists a range of other high-profile pardons, including former Illinois Governor Rod Blagojevich, former Honduran President Juan Orlando Hernández, and former congressman George Santos.
It also references Trump’s decision to grant clemency to roughly 1,500 individuals charged or convicted in connection with the January 6 Capitol attack.
The governor’s office paired the website launch with a defense of California’s public safety spending, noting $1.7 billion invested since 2019 in crime prevention, law enforcement hiring, and organized retail theft operations.
Officials said the state’s approach contrasts with federal cuts to public safety and anti-trafficking programs under the Trump administration.
In response to Trump’s pardons, Representative Ro Khanna of California has proposed legislation that WOULD bar elected officials from owning or launching cryptocurrencies, arguing that pardons tied to digital asset figures raised conflict-of-interest concerns.
The bill would require divestment or blind trusts for lawmakers holding crypto assets.
