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Trump Family Reportedly Explores Stake in Binance as Founder Seeks Pardon

Changpeng Zhao denies reports of discussions with the Trump family, which allegedly involve investment talks and a potential pardon for past financial crimes.

Former Binance CEO Changpeng "CZ" Zhao arrives at federal court in Seattle, Washington, on April 30, 2024. US prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.
Trump in the Oval Office

Overview

  • Multiple reports claim the Trump family's crypto venture, World Liberty Financial, is in discussions to acquire a stake in Binance's U.S. arm.
  • Binance founder Changpeng Zhao, who pleaded guilty to money laundering in 2023 and served four months in prison, is reportedly seeking a presidential pardon.
  • Zhao has publicly denied any discussions about a deal or a pardon, calling the reports inaccurate and politically motivated.
  • Steve Witkoff, a Trump ally and negotiator in Middle East peace talks, is said to be involved in the discussions, though an administration official denies this claim.
  • The Trump administration has taken a pro-crypto stance, including establishing a national Bitcoin reserve and relaxing regulations on the cryptocurrency industry.