The Trump family is reportedly considering an investment in Binance.US, the American arm of the global cryptocurrency exchange Binance, according to a recent report by The Wall Street Journal. This potential move comes just two years after Binance.US pleaded guilty to violating anti-money laundering (AML) regulations, resulting in significant legal and financial repercussions for the company and its founder, Changpeng Zhao (CZ).
Binance’s Legal Troubles
In 2023, Binance.US admitted to AML violations, leading to a $4.3 billion fine and a four-month prison sentence for CZ. As part of the settlement, Zhao stepped down as CEO but retained his position as the majority shareholder of the cryptocurrency exchange. Despite his legal challenges, Zhao remains one of the world’s wealthiest individuals, ranking 24th on Forbes’ billionaire list.
The conviction has hindered Binance’s ability to secure commercial partnerships in the U.S. and obtain cryptocurrency licenses in Europe. Zhao has denied the WSJ’s report, stating on X (formerly Twitter), “I have had no discussions of a Binance U.S. deal with … well, anyone.”
The Role of a Presidential Pardon
The reported discussions between Binance and representatives of the Trump family have sparked speculation about the potential motivations behind the investment. One key question is whether a presidential pardon for Zhao could be part of the deal. Such a pardon could help Binance.US rebuild its reputation and regain access to critical markets.
Implications for the Crypto Industry
If the Trump family moves forward with the investment, it could signal a significant shift in the political and regulatory landscape for cryptocurrency in the U.S. The involvement of a high-profile political family could also draw increased scrutiny to Binance.US and its operations.
However, the deal is far from confirmed, and both parties have remained tight-lipped about the details. For now, the crypto industry is watching closely to see how this potential partnership unfolds and what it could mean for the future of digital assets in the U.S.
