Donald Trump’s family representatives have reportedly engaged in discussions to acquire a stake in Binance US, the American arm of the global crypto exchange. This development comes amid speculation that Binance’s founder, Changpeng “CZ” Zhao, is seeking a pardon following his guilty plea to anti-money laundering violations in 2023.
While the connection between the potential investment and a pardon remains unclear, the situation has sparked significant interest in both the political and crypto spheres.
According to a Wall Street Journal report, the talks between the Trump family and Binance US began after the exchange reached out to Trump allies in 2024. Binance’s outreach was part of a broader effort to revive its US operations, which have faced regulatory hurdles. Notably, the US arm of Binance resumed USD services after Trump took office in January. The report also highlights that Abu Dhabi-based MGX recently invested $2 billion in Binance, securing a minority stake in the exchange.
The relationship between the Trump family’s interest in Binance US and CZ’s alleged push for a pardon raises questions about potential deal conditions. As the largest Binance shareholder, Zhao could influence investment negotiations. However, it remains uncertain whether the Trump family’s stake in the exchange would be contingent on Trump granting Zhao a pardon. The WSJ report also suggests that the deal might involve World Liberty Financial, a firm with ties to the Trump family.
Despite these reports, Zhao has publicly denied seeking a pardon or discussing a Binance US deal with anyone. In a post on X, he dismissed the WSJ article, stating that while no felon would refuse a pardon, he has not actively pursued one. Zhao also criticized the report, claiming it reflects lingering hostility toward crypto from the previous US administration.
As regulatory scrutiny on Binance continues, the potential Trump family investment could significantly impact the exchange’s future in the US. Whether or not these discussions materialize into a concrete deal, they highlight the ongoing intersection of crypto, politics, and regulatory challenges in the US market.
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