Discussions have occurred between representatives of President Trump's family and the cryptocurrency exchange Binance for a potential financial stake in its US arm. This comes after Binance founder Changpeng Zhao pleaded guilty to anti-money laundering violations, leading to a substantial settlement. While the specifics of the stake—and whether it hinges on a pardon—remain unclear, the talks highlight Trump's increasing involvement and support for the cryptocurrency sector, which has financially backed his political endeavors amidst rising conflict-of-interest concerns.
Representatives of President Trump's family have held talks to take a financial stake in the US arm of crypto exchange Binance, according to the Wall Street Journal.
Binance's billionaire founder Changpeng Zhao has been pushing for the Trump administration to grant him a pardon as he navigates legal issues related to the exchange.
In November 2023, Zhao stepped down as CEO of Binance and pleaded guilty to breaking US anti-money laundering laws, resulting in a $4.3 billion settlement.
Trump recently signed an executive order to establish a strategic reserve of cryptocurrencies, emphasizing his support for the crypto industry amidst conflict-of-interest concerns.
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