Gavin Newsom Singles Out CZ, Ross Ulbricht, Arthur Hayes as Trump's 'Criminal Cronies'
TL;DR
California Governor Gavin Newsom launched a website tracking President Trump's 'criminal cronies,' highlighting crypto figures like CZ, Ross Ulbricht, and Arthur Hayes who received Trump pardons. The site accuses Trump of 'crypto corruption' and ties his family's crypto earnings to alleged conflicts of interest.
Key Takeaways
- •Newsom's website lists Trump alongside pardoned crypto figures including Binance's CZ, Silk Road's Ross Ulbricht, and BitMEX founders as 'criminal cronies.'
- •The site alleges Trump's family earned over $800 million from crypto ventures and accuses him of suspending investigations into figures who invested in his crypto company.
- •Democrats are escalating criticism of Trump's crypto dealings, with Senator Elizabeth Warren also raising concerns about platforms like PancakeSwap.
- •Newsom positions California as supporting 'responsible crypto innovation' in contrast to what he calls Trump's 'crypto corruption.'
- •Trump left open the possibility of further crypto pardons, including for Samourai Wallet developer Keonne Rodriguez.
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California Governor Gavin Newsom has launched a website tracking what he calls President Donald Trump's "criminal cronies,” a list that includes Trump himself alongside convicted drug lords, January 6 insurrectionists, and several prominent crypto figures who have received presidential pardons.
The tracker, unveiled Tuesday, spotlights Binance founder Changpeng Zhao, Silk Road creator Ross Ulbricht, and BitMEX co-founders Arthur Hayes, Benjamin Delo, Gregory Dwyer, and Samuel Reed, among the recipients of Trump's pardons.
CRIMINAL IN CHIEF: DONALD TRUMP
34 felony convictions. Cozying up to convicted sex traffickers. Cashing in on crypto grifts. Inviting foreign influence into American politics.
This is the standard Trump sets.See more at: https://t.co/B05K1ZIqBW pic.twitter.com/cfDAEacmib
— Governor Newsom Press Office (@GovPressOffice) December 16, 2025
"Governor Newsom is driving crime down—and Donald Trump is pardoning drug lords and driving criminals into government," Newsom's office said in a statement announcing the website, alongside new data showing violent crime declining across California's major cities.
The crypto-heavy pardon list comes amid mounting Democratic concerns about Trump's crypto dealings and potential conflicts of interest, entangling U.S. governance with private crypto interests.
Newsom supports "responsible crypto and blockchain innovation while prioritizing consumer protection, not fraud," according to his office, positioning California as a counterweight to what Democrats characterize as Trump's alleged corruption.
The launch came the same week that Decrypt asked President Trump whether he would consider pardoning Samourai Wallet developer Keonne Rodriguez.
“I’ll look at it,” the president said, leaving open the possibility of further crypto-related pardons.
CZ's "full and unconditional" pardon
Changpeng Zhao’s "full and unconditional pardon” came after pleading guilty to money laundering charges for allowing illicit funds, including money flowing to “terrorists, cybercriminals, and child abusers,” through Binance's platform, said Newsom.
Newsom’s site notes that Binance “was an important supporter of the Trump family’s own business,” World Liberty Financial, and mocks Trump’s claim that he doesn’t know Zhao, joking, “Maybe Sneaky Pete used the autopen while Trump slept?”
Last week, World Liberty Financial's USD1 stablecoin became part of Binance's core infrastructure, with Binance denying any connection between Zhao's pardon and the expanded integration of USD1, calling such suggestions "false and defamatory."
Silk Road and BitMEX
Ross Ulbricht, the founder of Silk Road, the now-shuttered dark web marketplace that facilitated over $214 million in illegal drug sales (often via Bitcoin), received a pardon for his 2015 conviction on narcotics and money-laundering conspiracy charges.
The BitMEX co-founders all received pardons in March after pleading guilty to violating the Bank Secrecy Act. Trump also pardoned HDR Global Trading Limited, the corporation that owns the cryptocurrency exchange.
Decrypt has contacted the White House, CZ and Arthur Hayes for additional comment.
Democrats vs. Trump
Newsom’s site highlights what it calls Trump’s “crypto corruption,” claiming that the president’s family has “raked in at least $800 million dollars in crypto” since the start of 2025. The site also alleges that Trump’s SEC suspended an investigation into Tron founder Justin Sun “just weeks after Sun invested $75 million into Trump’s crypto company World Liberty Financial,” as well as accusing the president of “cashing in” on his TRUMP meme coin by offering tours of the White House to investors.
This isn’t the first time that Newsom has shone a spotlight on Trump’s crypto activities; in September, the California Governor said on the "Pivot" podcast he would release his own meme coin called "Trump Corruption Coin,” mocking the president's TRUMP meme coin.
His website joins a widening chorus of Democratic criticism aimed at Trump’s connections with crypto projects.
Senator Elizabeth Warren's letter this week to Treasury Secretary Scott Bessent and Attorney General Pam Bondi highlighted decentralized exchange PancakeSwap's role in facilitating trading of USD1, and its reported use by North Korean backers to launder stolen crypto funds.
Meanwhile, House Democrats recently labeled the Trump White House “the world’s most corrupt crypto startup operation,” citing reports that the family earned more than $800 million in crypto ventures this year.