The family of former U.S. President Donald Trump is exploring a business stake in the world's largest cryptocurrency exchange, Binance. These talks coincide with Binance founder Changpeng Zhao's request for a presidential pardon after pleading guilty to violating U.S. anti-money-laundering laws.
Talks with Binance and Pardon Request
The Trump family has been in talks to secure a financial stake in Binance as founder Changpeng Zhao actively pursues a presidential pardon after his 2023 guilty plea for breaching U.S. anti-money-laundering laws. Despite this plea and serving a brief prison sentence, Zhao remains Binance's largest shareholder, retaining significant influence over the company's direction.
Trump's Crypto Policy
Since returning to the presidency in January 2025, Trump has adopted a pro-crypto stance. Moving from skepticism in 2021, his administration has supported regulatory changes and established a strategic cryptocurrency reserve, while appointing crypto-friendly figures to key regulatory positions.
Implications and Criticism
The pardoning of Ross Ulbricht and the Trump's family's involvement with Binance have sparked debate over potential conflicts of interest. As their financial foothold in crypto solidifies, concerns are raised about the influence of personal interests on public policy, leading to mixed reactions from experts and the public.
The situation involving the Trump's family and Binance highlights their increasing influence in the cryptocurrency realm. However, discussions continue regarding the implications of such actions and the potential impact on policy shaped by personal interests.
