Binance CEO Richard Teng denied experiences that Binance.US was in deal talks with entities affiliated with US President Donald Trump throughout a March 18 panel at Blockworks’ 2025 Digital Asset Summit in New York.
Teng’s assertion reiterated the place taken by Binance’s founder, Changpeng “CZ” Zhao, and Trump, each of whom denied the story final week.
On March 13, The Wall Avenue Journal reported that Binance.US, an independently-operated US cryptocurrency change, was discussing promoting an fairness curiosity to Trump-affiliated enterprise entities, together with a doable deal with World Liberty Monetary, the Trump family’s decentralized finance (DeFi) mission.
“I consider each World Liberty Monetary in addition to CZ himself have tweeted and denied the reforms, proper? In order that there’s actually nothing else so as to add,” Teng mentioned in the course of the summit, which was attended by Cointelegraph.
Richard Teng talking at Blockworks’ Digital Asset Summit in New York. Supply: Cointelegraph
Associated: Donald Trump’s memecoin generated $350M for creators: Report
Teng said that Binance.US is legally and operationally distinct from its bigger namesake.
“US and dotcom are fairly totally different animals, proper? They’ve totally different set of shareholders, they’ve totally different board of administrators and totally different CEO operating the present,” he mentioned.
Nevertheless, Teng did reward Trump, saying that Binance has benefited from the president’s “pro-crypto” insurance policies regardless of circuitously working within the US.
“Final 12 months was a landmark 12 months in that establishments are lastly approaching board,” Teng mentioned.
“With President Trump popping out with each [a] strategic crypto reserve or asset stockpile, it’s going to pressure governments world wide […] to take a look at this house fairly critically.”
In a departure from his predecessor, Joe Biden, Trump has mentioned he needs to make America the “world’s crypto capital” and has appointed pro-industry management to key regulatory posts.
Supply: CZ
Potential conflicts of curiosity
Citing sources acquainted with the matter, The Wall Avenue Journal report talked about that CZ — 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 kind the Trump family stake would take if the deal comes collectively or whether or not it might be contingent on a pardon,” the report mentioned.
Binance is the world’s largest cryptocurrency change, however Binance.US lags Coinbase within the US market.
CZ denied the report in an X post printed the identical day. Trump additionally denied the report in a put up on Reality Social, his social media platform.
“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 fashioned for the first function of ‘screwing’ the US of America,” the president wrote.
Trump’s Jan. 18 memecoin launch and his ties to crypto agency World Liberty Monetary have upturned norms for US presidents and raised concerns about potential conflicts of interest, specialists have mentioned.
Journal: Trump’s crypto ventures raise conflict of interest, insider trading questions
Cointelegraph by Alex O’Donnell Binance CEO reiterates denial of Trump family deal talks cointelegraph.com 2025-03-18 18:29:18
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