Binance founder Changpeng Zhao (CZ) has shot down reports that the Trump family was looking to invest in Binance US.
CZ Responds to Speculation
Several news outlets, including the Wall Street Journal and Bloomberg, reported on potential talks between the Trump family’s World Liberty Financial (WLFI) and Binance. These reports suggested discussions about a financial stake in Binance US and even a new dollar-backed stablecoin. CZ quickly denied these claims on X (formerly Twitter), stating he’d had no such discussions. He also criticized Bloomberg’s report for lacking evidence and being based on speculation. He specifically denied any business dealings with World Liberty or owning any of their tokens.
Political Motivation and Pardons
The Wall Street Journal’s report, which claimed talks had been ongoing since last year, also mentioned CZ’s past legal troubles. CZ hinted that the article was politically motivated, suggesting it was part of a broader “war on crypto” coming from both the current and previous administrations. He also addressed the possibility of seeking a presidential pardon, saying that while a pardon would be nice, he felt the situation was unfair.
Binance US’s Recent Comeback
It’s worth noting that Binance US recently restarted its dollar-backed services after a long hiatus. This followed a major settlement with the Department of Justice (DOJ) for violating anti-money laundering laws. CZ pleaded guilty to related charges and served some prison time. While Binance is still dealing with legal issues with the Securities and Exchange Commission (SEC), there are signs that these might be winding down. The SEC has temporarily paused some litigation.
Current Status
At the time of writing, Binance Coin (BNB) was trading at around $576.
