Representatives of Donald Trump’s family are reportedly in discussions to acquire a financial stake in Binance U.S., the American arm of the cryptocurrency exchange.
This comes as Binance’s founder, Changpeng Zhao (CZ), is said to be seeking a presidential pardon following his issues in the United States.
Zhao stepped down as Binance’s CEO in 2023 after pleading guilty to violating U.S. anti-money laundering laws. He also served a four-month prison sentence and paid a $4.3 billion fine as part of a settlement with authorities. Nonetheless, he is still the company’s main shareholder.
Binance has been unable to secure partnerships in the U.S. and obtain crypto licenses in Europe due to its legal history. Addressing reports of an investment deal, Zhao denied any involvement, stating on X: “I have had no discussions of a Binance U.S. deal with… well, anyone.”
It is not yet clear what role Trump’s family would play in the deal or if their investment is connected to Zhao’s exertions to secure a pardon.
Meanwhile, Trump’s recent pro-crypto moves, including an executive order establishing a strategic reserve of digital assets, have led to talks about possible conflicts of interest.
Trump and his family have previously launched cryptocurrency-related ventures, and the former president also has a stake in World Liberty Financial, a crypto platform.
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