Binance founder Changpeng Zhao (CZ) is reportedly seeking a presidential pardon from Donald Trump, even after serving a four-month prison sentence.
Binance is also reportedly negotiating with Trump-affiliated entities, including World Liberty Financial (WLF), to secure investment, while in exchange, Binance could shift significant operations to the U.S., The Wall Street Journal reported Thursday, citing sources familiar with the matter.
CZ Denies WSJ Report Amid Binance U.S. Revival
Binance founder and former CEO Changpeng Zhao (CZ) denies reports that the Trump family is negotiating to acquire a stake in Binanceโs U.S. division.
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He responded on X, dismissing the claims. โSorry to disappoint. The WSJ article got the facts wrong,โ CZ wrote. โFact: I have had no discussions of a Binance US deal withโฆwell, anyone.โ
Zhao reportedly sought Trumpโs pardon following legal troubles, including a $4.3 billion settlement in 2023 for violating U.S. anti-money laundering laws.
CZ’s denial comes as Binance.US recently reinstated U.S. dollar-backed fiat services after nearly two years, restoring the platformโs full functionality amid a shifting regulatory landscape under Trump that appears more favorable to the crypto industry.
Although CZ no longer works directly for Binance, he now serves as the sole limited partner of YZi Labs, formerly Binance Labs. The firm, which rebranded in January, operates independently of Binance.
World Liberty Financial (WLF) Controversy
Discussions about the Trump family acquiring a stake in Binance.US reportedly involve World Liberty Financial (WLF), a crypto project that generates 75% of its revenue for a Trump-affiliated firm and counts TRONโs Justin Sun as an investor.
Sources indicate that the talks included plans for the joint development of a dollar-backed stablecoin. However, the current status of these negotiations is unclear, and it remains uncertain whether an agreement will be reached.
Just days before the White House Crypto Summitโwhere Trump unveiled plans for a U.S. Bitcoin reserveโWorld Liberty Financial (WLF) bought over $20 million in Bitcoin (BTC) and Ethereum (ETH). The timing has fueled speculation that WLF acted in anticipation of favorable crypto policies.
Launched in September 2024, World Liberty Financial (WLF) aims to build a decentralized finance (DeFi) ecosystem. However, the project has faced controversy, raising concerns about the platformโs commitment to true decentralization.
Trumpโs Crypto Policies
Trump is pushing to make the U.S. a global crypto hub, courting foreign crypto exchanges to relocate operations to America.
The Trump administration has already taken steps to create a more favorable regulatory environment for cryptocurrency exchanges.
The U.S. government holds approximately $33 million in Binance Chain (BNB), which could be added to a new Digital Asset Stockpile under Trumpโs recent Executive Order.
Critics Accuse Trump of Political Kleptocracy
Political opponents sharply criticize Trump, alleging, โTrump and his family continue to profit directly from the Office of the President.โ
They characterize Trumpโs actions as political kleptocracyโa system where leaders of a country prioritize personal wealth and power at the expense of its citizens.
Critics also raise concerns about accountability and oversight, questioning the integrity of Trumpโs administration.
Why This Matters
If Trump is secretly negotiating Binance deals, his ties to World Liberty Financial (WLF) represent blatant corruption and a clear conflict of interest. Public officials, including the President, are legally required to prioritize the publicโs interest over personal gain.
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