by Reza Ali
Trump family members recently talked with Binance US to buy part of the business to help the crypto platform return to US operations. Changpeng Zhao promotes his case for a presidential pardon in addition to his work at Binance.
Representatives of Donald Trump’s family held talks since 2024 to collaborate financially with Binance US according to The Wall Street Journal (WSJ) report. The WSJ report shows how Binance discussed its U.S. market comeback and that source people provided this information.
Binance started talking with Trump’s associates about forming a business partnership with the presidential family. Content from the report states Binance started researching how to come back to the U.S. at the same time Trump won his 2024 presidency because they wanted to deal with Trump’s associates to fix their legal problems.
Binance’s Post-Election Strategy for US Market Reentry
The specific details about how Trump family members may hold shares in Binance US remain unknown at this time. Insiders reveal WLF became a possible way for Trump family members to run this business deal. Aside from holding his title, Steve Witkoff as WLF co-founder engaged in meeting discussions according to new sources.
A Trump administration representative denies any external involvement in the deal because Witkoff is completing his business disengagement. After Trump won the presidency Binance set up a specific team handled by CEO Richard Teng alongside top legal and compliance officers.
The group aimed to identify ways for Binance to reenter the U.S. market although Zhao had previously been found guilty of crimes. According to sources Zhao ran into a major challenge because his criminal history made it hard to set up business deals in the US.
The Binance team reviewed how the SEC delayed its legal action against crypto entrepreneur Justin Sun as they explored possible strategies to come back to the US market. Internal sources reported Binance wanted to negotiate a deal that would see Zhao gain presidential pardon in exchange for funding into WLF.
Memecoin Controversy Adds Scrutiny to Trump’s Crypto Ties
Reports show Zhao has repeatedly tried to get clemency from Trump during talks related to the Binance settlement. Talks about this deal went on after Trump’s becoming president and made users and investors worry. People in the cryptocurrency space strongly reject the idea that securing a presidential pardon would involve money-related transactions.
The latest controversy about Trump-linked cryptocurrency ventures deepens public examination of his business partnerships while adding to public distrust around memecoin operations. Through his social media outreach Zhao denied all charges reported in the news.
He made two points on the WSJ article’s misinformation saying that more than 20 people came forward after journalists phoned them about this alleged pardon deal. While Zhao maintained that he did not discuss his Binance US business with Trump aides he accepted that no felon would reject an official pardon as he became the only U.S. prisoner ever to serve time for a BSA offense.
Zhao says the WSJ story showcases a planned effort to discredit both Trump and the cryptocurrency space. The article appears to spread policies from the old administration that restrict digital assets.
Bloomberg interviewed sources who said Binance Holdings Ltd spoke regularly with WLF about various subjects during the week. The sources indicate WLF held discussions about building an American Stablecoin project which Binance Group led discussions.
The connection between politics and cryptocurrency rules draws attention from all parties who study how Binance U.S. operations will change and what impact this situation will have on Zhao’s legal position.
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