California Governor Gavin Newsom has launched a state-backed website aimed at spotlighting people pardoned or allegedly shielded by President Donald Trump, including several figures tied to the cryptocurrency industry. Through the site and an accompanying press release, Newsom argues that Trump’s use of executive clemency has reached individuals connected to serious financial crimes in crypto markets, while positioning California as supportive of blockchain innovation alongside consumer protection.
Crypto-linked pardons highlighted by Newsom
One of the most prominent examples listed is Ross Ulbricht, the founder of Silk Road. According to data cited by Newsom’s office, Ulbricht was convicted in 2015 on narcotics trafficking and money-laundering conspiracy charges tied to a marketplace that facilitated more than $214 million in illegal drug sales. He received a life sentence without parole before Trump later granted him a pardon, overturning that punishment.
The website also points to the pardon of former Binance CEO Changpeng Zhao (CZ). Newsom’s office claims Binance later backed a Trump-linked crypto venture, although Trump has publicly said he did not know Zhao. In addition, the site references pardons granted to BitMEX co-founders Arthur Hayes, Benjamin Delo, Gregory Dwyer, and Samuel Reed, who had pleaded guilty to violations of the Bank Secrecy Act. Trump also pardoned HDR Global Trading Limited, the parent company of BitMEX.
Conflict-of-interest claims and community backlash
Newsom’s office further alleges conflicts tied to Trump’s own crypto activities, claiming the Trump family has generated hundreds of millions of dollars from digital assets since early 2025 through ventures including a meme coin and a crypto holding company. The website also asserts that Trump suspended or softened regulatory actions involving crypto executives who later invested in Trump-linked businesses.
That framing quickly drew criticism across X. Some crypto users argued that Newsom’s presentation of the Ulbricht case and other pardons was misleading, while others openly defended Trump’s clemency decisions. Several responses went further, calling for additional pardons for other figures viewed by supporters as “crypto political prisoners.” The reaction underscored how divisive crypto enforcement and pardon politics remain within the digital asset community.
Wider political backdrop
The launch of the website coincided with new crime data from the Major Cities Chiefs Association showing year-over-year declines in violent crime across major California cities. Newsom used that contrast to argue that while California is showing progress on public safety, Trump has extended clemency to people convicted of financial, drug, and corruption-related offenses, including some tied to crypto.
The move also arrives as speculation grows around Newsom’s national political ambitions. According to Polymarket data cited in the report, Newsom holds a 36% chance of becoming the Democratic nominee and an 18% chance of winning the presidency, while JD Vance leads 2028 presidential election odds at 32%. As a result, the clash over crypto pardons is increasingly intersecting with the early narrative of the next U.S. presidential cycle.