- Trump’s family reportedly discussed acquiring a stake in Binance U.S., boosting BNB’s price.
- Sources claim Binance initially reached out to Trump allies to regain its U.S. market footing.
- CZ denied WSJ’s claims about seeking a presidential pardon, calling it misinformation.
Binance’s native token, BNB surged in value by over 4%, after reports claiming that the Trump family was in talks to acquire a stake in the Binance U.S. According to the Wall Street Journal, Trump’s family representatives discussed a possible investment in the exchange. This move would make Trump, a shareholder of Binance U.S., which had pleaded guilty to violating anti-money laundering charges in 2023.
Binance’s Efforts to Regain U.S. Market Share
Reports indicate that it was Binance who initially reached out to Trump allies last year, with a deal that could help the crypto exchange, which was once the crypto platform in the US, regain its footing in the market. While the talks about potential stake were underway, Changpeng Zhao, founder of Binance, reportedly came to push the Trump administration for a presidential pardon after being released from prison after serving a four-month prison sentence for violation of the AML laws.
If the Trump family moves forward with an investment, the deal may be facilitated through World Liberty Financial, a cryptocurrency venture backed by the Trump family which has repeatedly made headlines since its launch in 2024.
According to sources, Steve Witkoff, a real estate investor and Trump’s longtime friend, had been involved in the talks. He is currently serving as Trump’s top negotiator in the Middle East.
Related: World Liberty Financial Buys WBTC, ETH, MOVE in $21.5M Deal
CZ Denies Seeking Presidential Pardon
After the Wall Street Journal published its report on CZ, he publicly denied the claims on X, stating that the article had got the facts wrong. He said, “I have had no discussions of a Binance US deal with … well, anyone.” And he emphasized no felon would mind a pardon, especially in his case where he was the only person in U.S. history to serve prison time for a single Bank Secrecy Act (BSA) charge.
CZ also suggested the report was part of a broader attack on US President Donald Trump and the crypto industry, possibly by the residual forces of the “war on crypto” from the last administration. Finally, he concluded with a humorous note, saying that it feels good to know that even WSJ thinks that he should be pardoned.
