Such a deal would notably link the Trumps to a firm that pleaded guilty to breaking anti-money laundering laws in 2023.
Binance's BNB token bucked the wider crypto downturn on Thursday, jumping 4% following a
report that the Trump family has been holding talks to secure a financial interest in the U.S. arm of the world's largest cryptocurrency exchange.
According to the Journal, Binance first approached Trump allies last year, pitching a deal that could help the embattled exchange regain its footing in the U.S. At the same time, its founder, Changpeng Zhao - better known as CZ - has been angling for a presidential pardon after serving four months in prison for violating anti-money laundering laws.
However, in a post on X, Zhao denied any discussions about a deal for Binance.US or seeking a pardon.
"Sorry to disappoint. The WSJ article got the facts completely wrong. I have had no discussions of a Binance US deal with ... well, anyone," he wrote.
Zhao said the article was part of a broader effort to attack both crypto and the current administration, adding that "the residual forces of the 'war on crypto' from the last administration are still at work."
A spokesperson for Binance.US said the company declined to comment.
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