Representatives of US President Donald Trump’s family have reportedly held talks with Binance about buying a stake in the crypto exchange.
Binance reached out to Trump’s family representatives in 2024, providing to strike a deal as a part of a plan to renew Binance.US operations in the nation, The Wall Avenue Journal reported on March 13.
Citing sources acquainted with the matter, the report talked about that Binance’s billionaire founder Changpeng Zhao — who served four months in prison in the US — has been pushing for the Trump administration to grant him a pardon.
“It’s unclear what type the Trump family stake would take if the deal comes collectively or whether or not it could be contingent on a pardon,” the report mentioned.
World Liberty Monetary amongst deal choices
In keeping with WSJ, a possible alternative could possibly be a situation the place Trump takes the stake in Binance or proceeds with the deal by means of World Liberty Financial (WLFI), a Trump-backed crypto enterprise launched in September 2024.
Trump has emerged as the primary US “crypto president,” launching his Official Trump (TRUMP) memecoin days earlier than returning to the White Home on Jan. 20. The same memecoin subsequently came from Trump’s wife, Melania, whereas Trump’s son, Eric Trump, has been actively pushing for Bitcoin (BTC) and crypto adoption.
Cointelegraph approached Binance for a remark concerning the report on the alleged deal however didn’t obtain a response by publication.
Moreover, Binance executives anticipated a possible authorized decision in the Securities and Exchange Fee’s (SEC) civil case towards Tron founder Justin Solar, The WSJ reported.
Solar, who in November 2024 announced a $30 million investment in Trump’s WLFI, collectively asked a US court to halt his case with the SEC in February 2025.
Neither Solar nor any Binance representatives attended the primary White House Crypto Summit on March 7, 2025.
Trump slams WSJ for “polluted pondering” of the EU
Minutes earlier than the WSJ article was printed at 1:00 pm UTC, Trump took to Reality Social to slam the publication for allegedly reporting incorrect data.
“The Globalist Wall Avenue Journal has no concept what they’re doing or saying. They’re owned by the polluted pondering of the European Union, which was shaped for the first goal of ‘screwing’ the US of America,” the president wrote.
Supply: Donald Trump
Whereas Trump was quick to handle the WSJ report minutes earlier than its publication, key Trump-linked business figures — together with Elon Musk and David Sacks — didn’t react to the information on social media.
Supply: Changpeng Zhao
Zhao subsequently took to X to disclaim the allegations, suggesting that the WSJ article is “motivated as an assault on the president and crypto.”
“Truth: I’ve had no discussions of a Binance.US deal with … nicely, anybody,” CZ wrote.
Associated: Donald Trump’s memecoin generated $350M for creators: Report
Binance CEO praises Trump as a catalyst for a “international pro-crypto shift”
In the meantime, Binance CEO Richard Teng didn’t instantly reply to the report inside the first hour of its publication.
As a substitute, Teng took to X on March 13 to spotlight his new interview with CNBC, the place he praised Trump as a catalyst for a “international pro-crypto shift.” Teng expressed confidence that the crypto business is extensively supporting Trump, stating:
“Should you ask anyone in the crypto business, folks want the present administration in comparison with the final one.”
Nonetheless, some apparently haven’t been comfortable with all of Trump’s crypto insurance policies, with many advocating for Bitcoin-only US reserves as a substitute of a multi-crypto approach that has been finally chosen by the administration.
Home Democrats have additionally been involved concerning the plummeting TRUMP memecoin, proposing laws to ban the issuance of memecoins by any US public officers.
Journal: Trump’s crypto ventures raise conflict of interest, insider trading questions
Cointelegraph by Helen Partz Trump family held talks with Binance for stake in crypto exchange — Report cointelegraph.com 2025-03-13 13:26:55
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