The Wall Street Journal (WSJ) has reported that representatives of former U.S. President Donald Trump’s family were in discussions to acquire a stake in Binance.US. The deal, proposed by Binance last year, aimed to help the embattled exchange restart its U.S. operations. The potential acquisition could have been made directly or through World Liberty Financial (WLFI), a decentralized finance (DeFi) project backed by Trump. However, the exact structure of the deal remains unclear.
Exclusive: Trump family representatives have held talks to invest in Binance's U.S. arm, as the crypto exchange's founder seeks a pardon for his 2023 conviction https://t.co/WHNEmDQTzQ
— The Wall Street Journal (@WSJ) March 14, 2025
Zhao’s Legal Troubles and Regulatory Scrutiny
Changpeng Zhao (CZ), the founder and largest shareholder of Binance, has been at the center of legal battles in the United States. The U.S. Securities and Exchange Commission (SEC) charged both Binance and Zhao with securities violations, leading to a crackdown on Binance.US operations. The exchange halted U.S. dollar transactions amid regulatory scrutiny.
In November 2023, Zhao pleaded guilty to federal charges, including violations of anti-money laundering laws. He agreed to pay a $50 million fine as part of his plea deal, while Binance settled with authorities for a staggering $4.3 billion in penalties. Subsequently, Zhao received a four-month prison sentence in April 2024.
4. Sorry to disappoint. The WSJ article got the facts wrong.
— CZ 🔶 BNB (@cz_binance) March 13, 2025
More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
Denial of Presidential Pardon Allegations
Speculation has emerged that Zhao sought a presidential pardon from Trump in exchange for facilitating a Binance.US deal. However, Zhao has publicly denied these claims, dismissing any direct negotiations with the Trump family regarding a stake in the exchange.
Despite repeated denials, reports linking Binance to political figures continue to surface, raising concerns over the company’s future in the United States. Regulatory scrutiny remains high, and Binance.US has struggled to maintain stable operations in the face of shifting legal landscapes.
Binance.US Restores USD Transactions
In a significant move, Binance.US resumed U.S. dollar deposits and withdrawals in February 2024, following nearly 19 months of suspended fiat services. The restoration signals efforts to stabilize the exchange amid ongoing regulatory uncertainty.
Also Read: Pi Network Skyrockets 23% Ahead of Pi Day – Is a Binance Listing Imminent?
As Trump and his allies continue to express support for the cryptocurrency industry, questions linger over the political and financial ramifications of a potential Binance.US deal involving the former president’s family.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
