The Trump family is considering acquiring a stake in Binance US. Simultaneously, former Binance CEO Changpeng Zhao, known as CZ, is reportedly seeking a pardon. This news sparks significant interest in the cryptocurrency industry.
Trump’s Involvement in Crypto
Initially critical of cryptocurrencies, Trump has become a strong advocate as a 2024 presidential candidate. His campaign is courting crypto investors and accepting donations in Bitcoin, Ethereum, and Solana. Trump and his family have actively participated in crypto projects like World Liberty Financial.
CZ’s Pardon Request
CZ reportedly seeks a pardon from Trump following a guilty plea for violating U.S. anti-money laundering laws, which led to a $4.3 billion settlement. CZ refutes any relationship with the Trump family and calls WSJ's reports a political attack.
Crypto Community Reaction
The prospect of the Trump family owning a stake in Binance US divides opinions in the crypto community. Optimists see it as legitimizing the industry, while skeptics fear policy decisions influenced by financial interests. Commentator Ed Krassenstein voiced concerns over potential conflicts of interest.
While the Trump family's acquisition of a stake in Binance US remains unconfirmed, such a move could significantly impact U.S. crypto regulation. Meanwhile, Binance US is actively seeking investors like Abu Dhabi's MGX, who are advancing the exchange's development.
