According to The Wall Street Journal, the Trump family is in talks about acquiring a stake in Binance US. This speculation is fueled by Donald Trump's growing crypto support.
Trump's Connections to the Crypto Industry
Donald Trump has emerged as a significant supporter of crypto in the 2024 election cycle, despite his previous stance against the industry. His crypto involvements began with backing the DeFi project World Liberty Financial and launching tokens on the Solana blockchain with Melania Trump.
CZ's Pardon Request
Former Binance CEO Changpeng Zhao has reportedly reached out to Trump's allies seeking a presidential pardon after pleading guilty to violating U.S. anti-money laundering laws. The rumors suggest a potential political trade-off with Trump, but CZ has firmly denied the claims.
Crypto Community Reactions
The potential Trump family involvement in Binance US has sparked mixed reactions in the crypto community. Some see it as a step toward industry legitimacy, while others fear excessive centralization and potential conflicts of interest. Commentator Ed Krassenstein has issued warnings about the potential risks.
The issue of the Trump family's stake in Binance US remains unconfirmed. Should it proceed, the deal could represent a significant turning point for crypto regulation in the U.S., while rumors about CZ's pardon request and Trump's past crypto ventures continue to stir public interest.
