Binance Founder Denies Trump Family Investment Talks

Changpeng Zhao, the founder of Binance, has firmly refuted claims that the Trump family has been in talks with the cryptocurrency exchange regarding a potential investment in Binance.US. These allegations, which surfaced in a report, suggested that discussions were underway between representatives of the Trump family and Binance, with the possibility of a pardon for Zhao in exchange for business interests. However, Zhao has categorically denied these assertions, stating that the report contained inaccurate information.

In a post on March 13, Zhao clarified that he had not engaged in any discussions regarding a business deal between the Trump family and Binance.US. He emphasized that the media outlets had approached numerous individuals to verify the details of such a deal, but none could confirm it. Zhao expressed frustration with what he described as an attempt by the media to fabricate a story from unsubstantiated claims. He stated, "I have had no discussions of a Binance US deal with… well, anyone."

Zhao also addressed the notion that he might be seeking a pardon from President Trump. He pointed out that while no felon would mind a pardon, especially given his unique situation as the only person in U.S. history to be sentenced to prison for a single BSA charge, he had not pursued such an arrangement. Zhao's denial casts doubt on the credibility of the report and the alleged discussions between Binance and the Trump family.

The report had suggested that Zhao's conviction for violating anti-money laundering laws in 2023 complicated Binance's ability to operate in the U.S. and that a pardon could facilitate the company's potential return to the American market. It also speculated that such a deal could open the door for the Trump family to become more involved in the U.S. crypto market through their existing venture. However, Zhao's outright denial indicates that no serious discussions took place between Binance and Trump's representatives.

Zhao's response also hinted at a broader attack on President Donald Trump and the crypto industry, suggesting that the report was part of a lingering "war on crypto" from the former U.S. administration. Despite the denials, the allegations have raised concerns over regulatory oversight and political influence in the cryptocurrency sector. The situation underscores the need for transparency and accountability in the industry, as well as the potential impact of political involvement on the operations of major cryptocurrency exchanges.

Zhao's denial comes at a time when Binance.US is actively seeking strategic partners to strengthen its position in the American market. The company has been under intense scrutiny from U.S. regulators, especially after its 2023 plea agreement in which the company admitted to violating anti-money laundering laws. The settlement led to the resignation of Binance’s former CEO, Changpeng Zhao (CZ), who was sentenced to four months in prison and fined $50 million. Despite his release in September 2023, Zhao remains Binance’s largest shareholder.

Some insiders speculate that the Trump family’s involvement could be tied to efforts to secure a presidential pardon for CZ. However, Zhao has dismissed these speculations, stating that the reports are misinformation aimed at discrediting Binance and the broader cryptocurrency industry. He suggested that journalists had pressured sources to confirm a narrative regarding a potential pardon deal.

Zhao's denial of any discussions with the Trump family aligns with his broader stance on regulatory compliance and transparency. He has consistently advocated for a more favorable regulatory environment for cryptocurrencies, emphasizing the need for clear guidelines and oversight. The allegations, if true, could have significant implications for U.S. crypto regulations, especially as the Trump administration pushes for pro-crypto policies. It could also open the door for the exchange’s expansion in the American market.

In December 2022, Binance.US agreed to acquire Voyager Digital’s assets for $1.022 billion to return cryptocurrency to customers. Although the deal received court approval in April 2023, Binance.US withdrew later that month, citing a “hostile and uncertain regulatory climate” in the U.S. These conditions could shift if a similar deal were pursued under a more favorable administration. The potential involvement of the Trump family in Binance.US could signal a shift in the regulatory landscape, providing a more supportive environment for cryptocurrency exchanges to operate.