Binance, the world’s largest cryptocurrency exchange,
reportedly engaged in discussions with the Trump family about a potential
investment in its U.S. arm, according to the Wall Street Journal. But the
exchange was quick to deny the allegations.
The talks, as reported by the WSJ, highlighted
Binance’s strategic efforts to re-enter the American market as President Donald
Trump continues to strengthen his ties to the crypto industry.
Engaging Trump’s Inner Circle?
According to the report, Binance executives reached
out to Trump’s allies last year, offering a business deal that could have
included an investment stake for the former president’s family. The discussions were reportedly part of Binance’s broader effort to re-establish its presence in the United States after
regulatory setbacks forced it to distance itself from the country.
A potential stake could have been acquired through
World Liberty Financial, a crypto venture linked to the Trump family. The report said that real estate developer and Trump associate Steve Witkoff were allegedly involved in the negotiations.
The report boosted the price of Binance native cryptocurrency BNB, which was up 3% on CoinMarketCap’s daily chart, trading at $579 at the time of this publication.
However, it remains unclear whether the deal was
contingent on a presidential pardon for Binance founder Changpeng “CZ” Zhao,
who stepped down as CEO in November 2023 after pleading guilty to violating
U.S. anti-money laundering laws.
4. Sorry to disappoint. The WSJ article got the facts wrong.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
— CZ 🔶 BNB (@cz_binance) March 13, 2025
In addition to the alleged Binance talks, Trump’s
family has launched cryptocurrency-related ventures, including meme coins, and
holds a stake in World Liberty Financial.
Zhao took to X (formerly Twitter) to dismiss the
claims, stating, “I have had no discussions of a Binance US deal with … well,
anyone.” The WSJ did not suggest that Zhao was personally involved in the
negotiations, only that Binance executives pursued the talks.
Binance Pushes Back on WSJ Report
While the truth of the matter is yet to be determined, the WSJ report sheds light on potential Binance’s engagement with Trump’s circle. Critical questions remain. Was the Trump family seriously considering a
stake in Binance.US, or was the outreach merely exploratory?
Regarding claims that he sought a pardon from Trump,
Zhao responded ambiguously, neither confirming nor denying the request
outright. He wrote, “No felon would mind a pardon, especially being the only
one in U.S. history who was ever sentenced to prison for a single [Bank Secrecy
Act] charge.”
He also implied that the WSJ article was politically
motivated, criticizing lingering regulatory hostility toward crypto. Despite
its challenges, Binance continues to attract major institutional investors.
This week, Abu Dhabi-based investment firm MGX
announced a $2 billion investment in the exchange, signaling confidence in
Binance’s long-term viability.
This article was written by Jared Kirui at www.financemagnates.com.
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