As the tangible economy grapples with its own struggles, a curious phenomenon has emerged from the Trump administration: the invention of a so-called “pardon economy.” Traditionally, the federal pardon process is designed to be meticulous, involving rigorous applications reviewed by the US Pardon Attorney before any recommendations reach the president’s desk. However, upon his return to the White House, Trump opted to disrupt this established protocol, swiftly taking charge of the pardon process.
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This deviation from standard procedure led to what critics have termed the pardon economy, where access to Trump could be financially leveraged to secure pardons for clients. In response, the White House grew increasingly concerned about this burgeoning practice and attempted to rein in the pardon process. Interestingly, the administration did not openly acknowledge that their efforts were simply a return to following the law and established guidelines.
Trump’s approach to pardons has clearly politicized the process, favoring allies and members of the Republican Party in his decisions. Moreover, indications suggest that some pardons may have been granted through arrangements that resemble quid pro quo transactions. This raises the unsettling question of whether Trump is fully aware of the implications of his pardons.
His recent interview on CBS’s 60 Minutes illuminated some of the perplexities surrounding his choices. When queried by Norah O’Donnell about his decision to pardon Changpeng ‘CZ’ Zhao—crypto’s billionaire figurehead, who pleaded guilty in 2023 to serious violations of anti-money laundering laws—the implications of his decision became even murkier. O’Donnell pointed out that the government had previously stated Zhao’s actions posed “significant harm to U.S. national security” by allegedly facilitating financial transactions for terrorist organizations like Hamas. The inquiry raised the critical question: why would Trump choose to pardon someone with such a troubling background?
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