The Trump family is reported to be negotiating for a stake in Binance US while former Binance CEO Changpeng ‘CZ’ Zhao seeks a presidential pardon from Donald Trump after pleading guilty to money laundering violations.
Trump's Growing Ties to Crypto
Trump, once an opponent of cryptocurrencies, has become one of its chief advocates during the 2024 election cycle. His campaign has actively engaged crypto investors, accepting donations in Bitcoin, Ethereum, and Solana. The Trump family has previous crypto experience, having backed the DeFi project World Liberty Financial and launching tokens on the Solana blockchain.
CZ’s Pardon Request and the Political Angle
According to the Wall Street Journal, CZ is rumored to have sought Trump’s allies to secure a pardon after admitting to violations of anti-money laundering laws and settling a $4.3 billion fine. CZ remains the largest shareholder of Binance and denies any deal discussions with Trump.
The Crypto Community Reacts
The possibility of the Trump family owning a stake in Binance US has sparked debate in the crypto community. Optimists view it as a bullish sign, while skeptics fear centralization and the influence of financial interests on policy decisions. Commentator Ed Krassenstein has voiced his criticism on social media.
While unconfirmed, a Trump stake in Binance US could be significant for US crypto regulation. The debate around CZ’s pardon request and Trump’s previous crypto ventures keeps the discussion alive in the public sphere.
