Binance Founder Denies Trump Family Deal Talks Amid Crypto Industry Scrutiny

Binance founder Changpeng Zhao has refuted claims that he engaged in discussions with representatives of the Trump family regarding a potential stake in Binance.US. The allegations, which emerged recently, suggested that Zhao had been seeking a pardon from the Trump administration following his 2023 guilty plea. Zhao, however, took to social media to dismiss these reports, asserting that he had not held any discussions about a deal with anyone.

The purported negotiations between Binance and the Trump family were part of a larger strategy to restart Binance.US operations in the country. According to the reports, Binance approached Trump’s family representatives in 2024, proposing a business arrangement. This potential deal could have involved Trump acquiring a stake in Binance or proceeding through World Liberty Financial, a Trump-backed crypto venture launched in September 2024.

Zhao’s denial of these reports comes at a time when the crypto industry is grappling with regulatory hurdles and political scrutiny. The alleged talks between Binance and the Trump family underscore the intricate relationship between politics and the crypto industry, as well as the potential for significant deals to influence the future of digital currencies. Despite the denials, the reports have reignited interest in the connection between the crypto industry and political figures, and the possibility of future collaborations.

Zhao also suggested that the article was politically motivated, indicating that the report was an attack on both the President and the crypto industry. He further stated that the residual forces of the previous administration's 'war on crypto' were still at work. Zhao's response highlights the ongoing tension between the crypto industry and regulatory bodies, as well as the political dynamics that can influence the industry's trajectory.

Regarding the pardon reports, Zhao wrote that no felon would mind a pardon, adding that it was good to see that even the report's authors thought he should be pardoned. This statement underscores the complex legal and political landscape that the crypto industry operates within, and the potential for high-stakes deals to shape the future of digital currencies.