Letters from an American - November 3, 2025

Episode Date: November 4, 2025

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November 3, 2025. At the end of her interview with President Donald J. Trump, recorded on October 31st at Mara Lago and aired last night, heavily edited, on 60 Minutes, Nora O'Donnell of CBS News asked if she could ask two more questions. Trump suggested that previous questions had been pre-cleared when he mused aloud that if he said yes, that means they'll treat me more fairly if I do.

I want to get, it's very nice. Yeah, now is good. Okay. Uh-oh. These might be the ones I didn't want. I don't know. Okay, go ahead. O'Donnell noted that the Trump family has thrown itself

into cryptocurrency ventures, forming World Liberty Financial with the family of Steve Whitkoff, Trump's special envoy to the Middle East. In that context, she asked about the billionaire Changpeng Xiao, the co-founder and former chief executive officer of Binance. Zhao is cryptocurrency's richest man. He pleaded guilty in 2023 to money laundering, resigned from Binance, paid a $50 million fine, and was sentenced to four months in prison. Trump pardoned him on October 23rd.

O'Donnell noted that the U.S. government said Zhao, had caused significant harm to U.S. national security, essentially by allowing terrorist groups like Hamas to move millions of dollars around. She asked the president, why did you pardon him? Okay, are you ready? Trump answered. I don't know who he is.

I know he got a four-month sentence or something like that, and I heard it was a Biden witch hunt, and what I want to do is see crypto, because if we don't do it, it's going to go to China. It's going to go to, this is no different to me than AI. My sons are involved in crypto much more than I, me. I know very little about it. Other than one thing, it's a huge industry.

And if we're not going to be the head of it, China, Japan, or someplace else is, so I am behind it 100%. This man was, in my opinion, from what I was told, this is, you know, a four-month sentence. After he went on with complaints about the Biden administration, he would mention Biden 42 times in the release transcript. O'Donnell noted, Binance helped facilitate a $2 billion purchase

of the Trump family's World Liberty Financial Stablecoin. And then you pardon Zhao, she asked him, how do you address the appearance of pay for play? Trump answered, well, here's the thing. I know nothing about it because I'm too busy doing the other. O'Donnell interrupted, but he got a pardon. Trump responded. I can only tell you this.

My sons are into it. I'm glad they are because it's probably a great industry, crypto. I think it's good. You know, they're running a business. They're not in government. And they're good. My one son is a number one bestseller now. My wife just had a number one bestseller.

I'm proud of them for doing that. I'm focused on this. I know nothing about the guy. Other than I hear he was a victim of weaponization by government. When you say the government, you're talking about the Biden government. And then he was off again. complaining about the former president and boasting that he would make crypto great for America. So, not concerned about the appearance of corruption with this?

O'Donnell asked. Trump answered, I can't say because I can't say. I'm not concerned. I don't. I'd rather not have you ask the question, but I let you ask it. You just came to me and you said, can I ask another question? And I said, yeah, this is the question.

And you answered, O'Donnell put in. I don't mind, Trump said, did I let you do it? I could have walked away. I didn't have to answer this question. I'm proud to answer the question. You know why? We've taken crypto. After another string of complaints about Biden, he said, we are number one in crypto and that's the only thing I care about. If, among all the disinformation and repetition Trump spouted in that interview, he did not know who he was pardoning. Who's running the overall? office. It appears House Speaker Mike Johnson, a Republican of Louisiana, doesn't want to know. At a news conference today, journalist Manu Raju noted, last week you were very critical of Joe Biden's use of the auto pen. You said he didn't even know who he was pardoning. Last night, on 60 minutes, Trump admitted to not knowing he pardoned a crypto billionaire who pleaded guilty to money laundering. Is that also concerning? Johnson answered, I don't know anything about that.

I didn't see the interview. You have to ask the president about that. I'm not sure. Pleading ignorance of an outrage or that a question is out of his lane has become so frequent for Johnson that journalist Aaron Rupar of public notice, who is very well informed about the news indeed, suggested today that journalists should consider asking Johnson,

do you ever read the news? And do you agree it's problematic for the speaker to be so woefully uninformed? Johnson continues to keep the House from conducting business as the government shutdown hit its 34th day today. Tomorrow the shutdown will tie the 35-day shutdown records set during Trump's first term. Representative Adelaide Grijalva, a Democrat of Arizona, whom voters elected on September 23rd, is still not sworn in. She has said she will be the 218th and final vote on a discharge petition to force a vote requiring the Department of Justice to release the Epstein

files. Trump and Johnson continue to try to jam Democratic senators into signing on to the Republican's continuing resolution without addressing the end of premium tax credits that is sending health care premiums on the Affordable Health Care Act marketplace soaring. They continue to refuse to negotiate with Democrats, although negotiations have always been the key to ending shutdowns. To increase pressure, they are hurting the American people. The shutdown meant that funding for Supplemental Nutrition Assistance Program, or SNAP benefits, on which 42 million Americans depend to put food on the table, ran out on October 31st.

Although previous administrations, including Trumps, have always turned to contingency funds Congress set aside to make sure people can eat, and although the Trump administration initially said it would do so this time as usual, it abruptly announced in October that it did not believe tapping into that reserve was legal. SNAP benefits would not go out. On Friday, U.S. District Judge John McConnell of the District of Rhode Island ordered the administration to fund payments for SNAP benefits using the reserve Congress set up for emergencies. Since that money, $4.65 billion will not be enough to fund the entire $8 billion required for November payments, McConnell suggested the administration could make the full payments by tapping

into money from the Child Nutrition Program and other funds. But he left discretion up to the administration. Today the administration announced it would tap only the first reserve funding just 50% of SNAP benefits. It added that those payments will be delayed for a few weeks up to several months. The disbursement of the reserve it continued means that no funds will remain for new SNAP applicants certified in November, disaster assistance, or is a cushion against against the potential catastrophic consequences of shutting down snap entirely.

Big you can't make me energy, talking points memos Josh Marshall noted. It's also an astonishing act of cruelty, especially as grocery prices are going up. Trump lied that they are stable in the 60 Minutes interview. Hiring has slowed and the nation is about to celebrate Thanksgiving. The shutdown also threatens the four-point

$1 billion low-income home energy assistance program or LIHEAP that helps families cover the cost of utilities or heating oil. Susan Haig and Mark Levy of the Associated Press note that this program started in 1981 and has enjoyed bipartisan support in Congress ever since. Trump's budget proposal for next year calls for cutting the program altogether, but states expected to have funding for this winter. Almost 6 million households use the program, and as cold weather sets in, the government has not funded it. When the Republicans shredded the nation's social safety net in their budget reconciliation bill of July, the one they call the One Big Beautiful Bill Act, they timed most of the cuts to take effect after the 2026 midterm elections. But the shutdown is making clear now, rather than after the midterms, what the nation is. will look like without that safety net.

In the 60 Minutes interview, O'Donnell noted an aspect of Trump's America that is getting funded during the shutdown. She said, Americans have been watching videos of ICE tackling a young mother, tear gas being used in a Chicago residential neighborhood, and the smashing of car windows.

Have some of these raids gone too far? No, Trump answered. I think they haven't gone far enough because we've been held back by the judges, the liberal judges that were put in by Biden and Obama. In fact, a review by Kyle Cheney of Politico on Friday showed that more than a hundred federal judges have ruled at least 200 times against Trump administration immigration policies. Those judges were appointed by every president since Ronald Reagan and 12 were appointed by

Trump himself. It appears that the administration did indeed ignore today's deadline for congressional approval of the ongoing strikes against Venezuela required under the 1973 War Powers Act. It is taking the position that no approval is necessary since in its formulation U.S. military personnel are not at risk in the strikes that have, so far, killed 65 people. Letters from an American was written and read by Heather Cox Richardson. It was produced at Soundscape Productions, Dead in Massachusetts, recorded with music composed by Michael Moss.

Thank you.