Zhao Denies Trump Family Binance Stake Talks

Changpeng Zhao, co-founder of Binance, has denied reports of discussions with the Trump family about acquiring a stake in Binance's U.S. arm, a claim initially reported by the Wall Street Journal. The WSJ suggested that the Trump family, through their project World Liberty Financial, was interested in investing in Binance US, potentially facilitating Binance's return to the U.S. market. Simultaneously, speculation arose that Zhao was seeking a presidential pardon for past money-laundering violations, which he also refuted. Despite Zhao and Binance's denial, Bloomberg and other sources continue to report on these alleged negotiations, highlighting potential conflicts of interest and political implications. These reports come in the context of Binance's legal troubles, including a $4.3 billion penalty for anti-money laundering law violations. Zhao accused the reports of being politically motivated attacks against him and the crypto industry.