The Trump family is reportedly in talks for a stake in Binance US as Changpeng Zhao seeks a pardon. WSJ reports discussions amid Binance's strategic moves for a U.S. comeback.
Trump Family and Binance Talks
According to the Wall Street Journal, Trump's family representatives are discussing the potential investment in the U.S. arm of Binance. Changpeng Zhao, who has served a prison sentence after pleading guilty to money laundering, is reportedly seeking a pardon. The report suggests these talks are part of Binance's strategy to reenter the U.S. However, the details of the deal remain unclear.
Changpeng Zhao's Response
Changpeng Zhao refuted the Wall Street Journal's claims, stating that he has not discussed any deal regarding Binance US. He remarked that the article was an attempt to damage the president and the crypto sector. Zhao emphasized that he was unjustly convicted and considers current investigations a continuation of the 'war on crypto'.
Binance's Plans for U.S. Return
Following a legal settlement in the U.S. in 2023, Binance is focusing on a return to the American market. Under the leadership of new CEO Richard Teng, an internal task force was formed to explore legal pathways for a U.S. reentry. Recently, the exchange received investments from UAE's MGX, aligning with their blockchain development goals.
While the outcome of the Trump-Binance deal remains unconfirmed, Binance continues to make moves towards reentering the U.S. market. It remains to be seen how these developments will impact Binance's future.
