Changpeng Zhao Denies Claims of Binance.US Deal Talks with Trump
Reports indicate that the Trump family is negotiating to acquire a stake in Binance.US, the U.S. division of the crypto exchange. The Wall Street Journal suggests that Binance founder Changpeng Zhao (CZ) has requested a presidential pardon from Trump amid ongoing SEC litigation, a claim CZ denies, labeling it as unfounded.
Key points include:
- In 2023, Binance.US and Zhao faced legal consequences for violating anti-money laundering regulations, resulting in a four-month prison sentence for Zhao and a $4.3 billion settlement with the SEC.
- Binance reportedly contacted Trump allies last year to discuss a potential business deal aimed at reviving Binance.US operations.
- Zhao criticized the WSJ article, claiming inaccuracies and asserting that no discussions about a pardon or business deals occurred.
- Trump family involvement could potentially facilitate Binance's return to the U.S. market, especially as crypto regulations evolve favorably.
- A recent $2 billion minority investment from UAE-backed MGX signifies Binance's efforts to stabilize following regulatory setbacks.
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