- Trump family explores Binance US investment amid CZ’s pardon bid.
- Binance US seeks revival with $2B Abu Dhabi investment.
- CZ denies seeking Trump’s pardon, calls crypto crackdown political.
Donald Trump’s family reportedly wants to acquire stock in Binance, a cryptocurrency exchange based in the United States. This comes as the founder of the exchange is allegedly seeking a pardon for his 2023 guilty plea that led to his imprisonment.
Trump Family in Talks with Binance US
As per a report from the WSJ, representatives of US President Donald Trump’s family are in discussions to purchase a share in Binance’s US division. This follows the announcement from the leading crypto exchange that Abu Dhabi’s MGX invested $2 billion in the exchange to secure a minority share.
At the same time, the WSJ article also disclosed that the exchange’s creator Changpeng “CZ” Zhao is also advocating for a pardon from Trump’s administration. Last year, CZ completed a four-month sentence after he and Binance US admitted to violating anti-money laundering laws. A pardon will erase Zhao’s criminal record from the registry, indicating he will no longer be seen as an ex-convict.
Potential Connection Between the Binance Deal and Zhao’s Pardon
The Trump family’s efforts to buy a stake in Binance US and CZ’s attempt for a pardon may be connected, particularly since the exchange’s founder is reportedly still the biggest shareholder. Consequently, he might significantly influence Trump’s efforts to obtain a share in the leading crypto exchange’s US division.
The WSJ also disclosed that discussions to buy a share in the crypto exchange started when Binance contacted Trump’s associates in 2024 to propose a deal with the family as part of its plan to rejuvenate the exchange’s US operations. It is important to note that the US branch restarted its USD services following Trump’s inauguration in January.
As reported by WSJ, it’s still uncertain how the Trump family’s investment might appear if the arrangement occurs or if it would rely on Trump providing CZ with a pardon. In the meantime, the report highlighted the potential for the agreement to proceed via World Liberty Financial, an entity connected to the Trump family.
CZ’s Denial and Claims of Political Motivations
In an X post, CZ mentioned that he has not talked to anyone about a Binance US deal and implied that he hasn’t sought a pardon from Trump’s administration. Nonetheless, the Binance founder mentioned that no criminal would refuse a pardon, particularly given that he is the only individual in US history to have been sentenced to prison for a single BSA charge.
Zhao additionally noted that the WSJ’s article seems to be an assault on the US President and cryptocurrency, with lingering effects of the previous administration’s war on crypto still evident. He mentioned that he is consistently pleased to engage in crypto globally, both in the US and beyond.
