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Trump Family in Talks for Binance US Stake Amid Pardon Speculation
Discussions Over Financial Stake
Representatives of President Donald Trump’s family have engaged in discussions to acquire a financial stake in Binance.US, the American branch of the global cryptocurrency exchange. These talks reportedly began after Binance reached out to Trump’s allies last year, aiming to facilitate the company’s return to the U.S. market.
Changpeng Zhao Seeks Pardon
Binance’s founder and former CEO, Changpeng Zhao (CZ), has been seeking a presidential pardon from the Trump administration. In November 2023, Zhao stepped down as CEO and pleaded guilty to violating U.S. anti-money laundering laws. This resulted in a $4.3 billion settlement and a four-month prison sentence. Zhao was released in September 2024 and has since pursued a pardon to mitigate the legal consequences of his conviction.
Uncertainty Surrounding the Deal
The specifics of the potential deal between the Trump family and Binance.US remain unclear. It is not known what form the financial stake would take or whether the arrangement would be contingent upon Zhao receiving a pardon. Possibilities include a direct stake or an arrangement through the Trump family-backed decentralized finance (DeFi) project, World Liberty Financial.
Conflict-of-Interest Concerns
President Trump’s increasing involvement in the cryptocurrency industry has raised ethical concerns. His family has launched cryptocurrency meme coins, such as the $TRUMP token, which reportedly generated at least $350 million shortly after its release. Additionally, Trump holds a stake in the crypto platform World Liberty Financial. These ventures, combined with his administration’s pro-crypto policies, have drawn scrutiny over potential conflicts of interest.
“Trump Family in Talks for Binance US Stake Amid Pardon Speculation”