The Wall Street Journal reports the Trump family is negotiating to acquire a stake in Binance US. While there has been no official confirmation, speculation is fueled by Trump's increasing support for cryptocurrencies.
Trump and Cryptocurrencies
Formerly anti-crypto, Trump has become a major advocate in the 2024 election cycle, courting investors and accepting donations in Bitcoin, Ethereum, and Solana. This isn't his family's first foray into the crypto world, as they supported the DeFi project World Liberty Financial in 2024.
CZ's Pardon Request
Former Binance CEO Changpeng Zhao, known as CZ, is reportedly seeking a presidential pardon from Trump after pleading guilty to U.S. anti-money laundering violations. He denied allegations of a Binance US deal with the Trump family.
Crypto Community Reaction
The potential Trump family involvement in Binance US has divided opinions. Optimists see it as a positive move, while skeptics fear centralization. Criticism came from Ed Krassenstein, highlighting past Trump ventures with meme tokens.
The Trump family's interest in Binance US remains unconfirmed. Should a deal occur, it could significantly impact U.S. crypto regulation.
