- Binance asked US officials to remove the monitor overseeing its anti money laundering compliance.
- Binance discussed listing a new stablecoin linked to the Trump family crypto venture.
- Rumors claim Binance founder may have helped US authorities in a case against Tron founder.
Binance executives held private discussions with the US Treasury last month. They pushed for reduced government oversight of their exchange. At the same time, they explored potential business with World Liberty Financial, a crypto firm connected to the Trump family.
According to sources familiar with the matter, Binance aimed to remove or shorten the duration of a US-imposed monitor. This monitor has been overseeing Binance’s compliance with anti-money-laundering rules. The request highlights Binance’s effort to regain footing in the US market after legal troubles.
Binance Seeks Removal of Compliance Monitor
Binance Chief Executive Richard Teng and Chief Legal Officer Eleanor Hughes led the talks. They requested the removal of the independent monitor appointed by US authorities. This monitor was part of a settlement following Binance’s guilty plea in 2023.
The monitor’s role includes checking Binance’s actions against money laundering violations. Binance believes easing the monitor’s role could help rebuild its US operations. The discussions indicate Binance’s attempt to reset its relationship with US regulators.
Trump Family Crypto Venture Enters the Picture
Parallel to these talks, Binance has been in discussions with World Liberty Financial. The company plans to launch a new stablecoin pegged to the US dollar. Sources confirmed Binance is considering listing this token on its platform.
A listing on Binance could boost the token’s visibility. It may also generate large profits for Trump-linked investors. This move suggests closer ties between Binance and the Trump family’s crypto interests.
Changpeng Zhao’s Legal History Raises Questions
Binance founder Changpeng Zhao continues to be the central figure at the company. The anti-money-laundering charges led him to agree to step down as CEO in 2023 before pleading guilty. Zhao settled with the United States government by agreeing to pay the largest settlement in U.S. history worth $4.3 billion.
Reports indicate Zhao previously sought a pardon from US authorities. His sentencing in 2024 resulted in a four-month prison term. He has since been released.
Rumors Surround Tron Founder in Ongoing Investigations
In a related twist, rumors claim Zhao may have cooperated with US authorities. These claims suggest he provided information about Tron founder Justin Sun. Sun faces legal action from the US SEC over unregistered securities and market manipulation.
Sun publicly denied knowledge of these allegations. His case with the SEC remains ongoing, with both sides seeking settlement talks. Zhao has not confirmed or denied involvement in the investigation.
Regulatory Scrutiny Continues Across Crypto Industry
The developments underline growing pressure on major crypto players. US authorities maintain strict oversight following past violations. Binance’s efforts to ease scrutiny and expand partnerships show the exchange’s push to recover its market position.
Industry observers are watching for official updates from the Treasury, the SEC, or Binance. For now, Binance’s future in the US remains uncertain as discussions progress behind closed doors.
