Binance, Trump Stablecoin Deal Tied to Pardon Bid

Binance, the world's largest cryptocurrency exchange, secretly developed the core code for USD1, a stablecoin launched by the Trump family's World Liberty Financial, while its founder Changpeng Zhao was actively seeking a presidential pardon after pleading guilty to anti-money-laundering violations. This coding enabled USD1's use in a $2 billion transaction involving a UAE investment firm's stake in Binance, with over 90% of USD1—worth more than $2 billion—held in Binance wallets and generating significant annual interest income for the Trump family. Binance also promoted USD1 to its 275 million users, though whether the Trumps paid for these services remains unclear. The undisclosed financial arrangement and CZ's concurrent pardon application have raised concerns among legal experts about unprecedented conflicts of interest. Experts point to the unusual overlap between a sitting president’s personal financial gains and his official powers. Both Binance and World Liberty have declined to release details of their partnership, while scrutiny continues over the Trumps' crypto activities and CZ's pardon request.