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Recent reports suggest that representatives of President Donald Trump’s family have engaged in discussions to acquire a stake in Binance, the world’s largest cryptocurrency exchange. These talks are reportedly part of Binance’s strategy to re-establish its presence in the United States. businessinsider.com
Background on Binance’s U.S. Regulatory Challenges
In November 2023, Binance’s founder, Changpeng Zhao (commonly known as CZ), stepped down as CEO and pleaded guilty to violating U.S. anti-money laundering laws. This plea was part of a $4.3 billion settlement with U.S. authorities, leading to Binance‘s limited operations within the country.
Details of the Reported Discussions
According to sources familiar with the matter, Binance reached out to Trump’s family representatives in 2024, proposing a business arrangement that could facilitate the company’s return to the U.S. market. The specifics of the potential deal remain unclear, including whether the Trump family’s stake would be direct or through a venture like World Liberty Financial (WLFI), a crypto initiative backed by the Trumps and launched in September 2024.
Changpeng Zhao’s Legal Situation and Pardon Efforts
Reports indicate that CZ has been seeking a pardon from the Trump administration following his legal issues in the United States. It is uncertain whether the potential investment by the Trump family is contingent upon such a pardon.
Trump’s Involvement in Cryptocurrency Initiatives
President Trump has shown increasing interest in the cryptocurrency sector. In January 2025, he launched a memecoin called “TRUMP,” which quickly became the 25th most valuable cryptocurrency. This move has raised ethical concerns due to potential conflicts of interest, especially considering that the Trump team controls a significant portion of the coin’s supply.
Official Responses and Denials
Prior to the publication of reports about the potential deal, President Trump criticized The Wall Street Journal on social media, accusing it of disseminating misinformation. Additionally, CZ denied having discussions about a Binance.US deal, suggesting that such reports might be attempts to undermine both the president and the cryptocurrency industry.
The reported discussions between the Trump family and Binance highlight the complex interplay between cryptocurrency enterprises and political figures. As Binance seeks to navigate regulatory challenges and re-establish its U.S. operations, the involvement of high-profile individuals like President Trump’s family adds layers of complexity and public scrutiny to the situation.
