David Sacks, Trump’s new AI and Crypto Czar, stated, “There were too many stories of people being hurt by Operation Choke Point 2.0. It needs to be looked at.”
Fox News reported that industry leaders are alarmed, saying such regulatory hostility could “kill innovation” in the U.S.
How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses
Critics Slam Trump Over Zhao’s Pardon
The pardon has drawn bipartisan backlash. Senator Elizabeth Warren (D-Mass.) condemned it, saying:
“Pardoning convicted crypto billionaires sends a message: if you have money and the right connections, you don’t have to follow the law.”
Representative Jerry Nadler (D-N.Y.) went further, accusing Trump on X (formerly Twitter) of “selling pardons to anyone who can personally profit him.”
Even Trump ally Laura Loomer criticized Zhao, accusing him of using Emirati citizenship to “evade punishment.” Zhao fired back online, denying he was a Chinese national and warning Loomer against spreading “stereotypes.”
Despite the criticism, White House Press Secretary Karoline Leavitt defended the decision, stating, “Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest.”
