- Changpeng Zhao denies seeking a Trump pardon, calling the reports false and misleading.
- WSJ alleges Binance discussed deals with Trump’s allies, including a stake in its U.S. arm.
- CZ refutes allegations, stating Binance has no business ties with Trump-linked entities.
Binance founder Changpeng Zhao (CZ) has denied reports suggesting he is seeking a pardon from U.S. President Donald Trump. The allegations, published by The Wall Street Journal and Bloomberg, claim that Trump’s family explored a potential deal with Binance, including discussions of a pardon for CZ. However, CZ has firmly dismissed these claims as false.
The Wall Street Journal reported that CZ had been actively pushing for a presidential pardon. It also suggested that Trump’s representatives were in talks to acquire a financial stake in Binance’s U.S. operations. Bloomberg released a similar report, further fueling speculation about potential political negotiations involving the cryptocurrency giant.
In response, CZ took to X to refute the claims. “Sorry to disappoint. The WSJ article got the facts wrong,” he stated,
Feels like the article is motivated as an attack on the President and crypto, and the residual forces of the “war on crypto” from the last administration are still at work.
The Wall Street Journal alleged that Binance had reached out to Trump’s allies last year in an attempt to strike a deal during his campaign. The report also claimed that Trump-affiliated World Liberty Financial (WLFI) was involved in these discussions. Bloomberg also made such claims, as it described how Binance and WLFI were considering the issue of a U.S. dollar backed stablecoin.
CZ revealed that Bloomberg published an apology in July 2024, two years after he sued the media giant for defamation. The lawsuit was filed in response to a July 2022 article that he claimed contained false and misleading information, damaging his reputation within the crypto industry.
CZ Rejects Business Ties
CZ dismissed these allegations, denying any involvement with Trump’s associates or WLFI. He stated:
I/Binance have no business deals with WLF or the people mentioned in their article. We also did not buy any of the WLF coins.
His denial comes amid ongoing legal scrutiny. CZ was sentenced to four months in a U.S. prison in 2024 after pleading guilty to charges related to insufficient anti-money laundering (AML) controls on Binance’s U.S. exchange. His legal battles have raised questions about whether he is seeking political leverage to ease future consequences.
Related: MGX Acquires Minority Stake in Binance with $2B Crypto Deal
These reports have led to further debates about the relationship between the adoption of cryptocurrencies and politics. Claims that Binance might have been involved in some backdoor dealings with Trump’s friends intensified regulatory concerns within the industry. However, CZ’s statements aim at dismissing as well as disassociating him and Binance from such claims.
