The Trump family is negotiating with Binance.US: A new change in the cryptocurrency market?

Recently, a piece of news has caused a stir in the cryptocurrency market. The Wall Street Journal quoted sources on March 13 that the Trump family has negotiated to acquire a stake in Binance.US, a US branch of cryptocurrency trading platform Binance. This news instantly aroused widespread attention and speculation, and the cryptocurrency circle was in full swing.

It is reported that the negotiations began last year. Binance contacted Trump's allies at the time and proposed a business deal with the Trump family as part of the company's plan to return to the United States. At present, if the transaction is reached, the form of holding of the Trump family shares is not clear, and whether it depends on the pardon is unknown. The possibility includes direct holdings of the Trump family or trading through World Liberty Financial, people familiar with the matter said.

According to the Wall Street Journal, Trump's representative recently met with senior Binance.US officials to discuss potential cooperation models. The Trump family may directly hold shares or use World Liberty Financial to participate in the operation. The news came out at a time when Trump became active in the political and commercial stages, and his family's interest in the crypto field has long been known to the world.

Binance.US, a US branch of Binance, the world's largest cryptocurrency trading platform, has been working hard to repair relations with regulators and carry out compliance transformation after Zhao Changpeng was sentenced to four months in 2024 for violating the U.S. Anti-Money Laundering Act. At this time, it was reported that the Trump family potentially invested, which was interpreted by the outside world as a bold attempt to use Trump's political influence and business resources to open up the US market.

The rumor quickly sparked a strong reaction in the crypto community. Supporters believe that the Trump family's investment may drive a surge in Binance.US transaction volume, striving for looser regulatory policies in the United States. But critics worry that the intervention of politicians will intensify the speculative atmosphere in the crypto market and put retail investors at greater risks.

It is worth mentioning that on March 12, Binance announced that it had received a US$2 billion investment from MGX. MGX Chairman Tahnon holds many national positions in the UAE. His financing represents the recognition and support of the National Sovereign Fund, bringing more room for imagination for Binance's future development.

Faced with the rumors, Binance founder Zhao Changpeng posted on X on the evening of March 13, clearly denied the authenticity of the report. He said he had never discussed the deal with anyone about Binance.US. Zhao Changpeng said the facts of the Wall Street Journal article were wrong, and the media tried hard to fabricate stories, which was essentially a deliberate attack on the president and the crypto industry, and the remnants of the previous administration's suppression of the cryptocurrency war are still in play.

Looking back on the past year and over the past year, Zhao Changpeng has experienced a dramatic turn from imprisonment to release. After being released, he occasionally spoke through social media and became quite active in recent months. He has repeatedly promoted BNB Chain's ecological publicity, and his influence cannot be underestimated. Even though he no longer serves as the CEO of Binance and is prohibited from participating in daily operations, as the largest shareholder, his every move still attracts attention.

Although the Trump family's investment in Binance.US rumors were denied by Zhao Changpeng, the discussions triggered reveal the complex situation in the cryptocurrency industry. Trump has publicly supported digital assets such as Bitcoin many times in recent years. During the campaign in 2024, he promised to promote the legalization of cryptocurrencies, and after taking office, he also fulfilled some of his promises, such as establishing a national strategic reserve for Bitcoin.

Binance.US has been investigated by the U.S. Department of Justice and the Securities and Exchange Commission for multiple rounds of investigations since 2023, and ended with a high fine and Zhao Changpeng pleaded guilty. Although it claims to be independent of the global Binance system, its operations in the US market are still subject to strict regulatory restrictions. Introducing the Trump family may theoretically seek policy support, but may also intensify conflicts with regulators.

After Zhao Changpeng refuted the rumor, it remains to be seen whether the dispute will subside. He continued to tweet that the release of MGX's investment in Binance news indirectly reflects his attitude towards media reports. As an authoritative media, the Wall Street Journal usually has information sources. The rumors were denied this time, either because the negotiations did not make substantial progress or the discussions were highly confidential. Some people in the crypto community have questioned that Zhao Changpeng’s statement is only temporarily to appease market sentiment, and it is still unknown whether the inside story will be exposed in the future.

In addition, Bloomberg reported that Trump's crypto project WLFI had discussed cooperation with Binance, including the development of stablecoins. This further shows that all parties in the cryptocurrency market are closely connected and potential cooperation continues, and also adds more complexity to the rumors of the Trump family’s negotiations with Binance.US.

On the issue of pardon, rumors of Trump's family's investment are related to whether Zhao Changpeng can be pardoned. He Yi commented on the issue of amnesty on social platforms, believing that Zhao Changpeng could try to apply for amnesty from Trump. Compared with Sam Bankman - Fried (SBF), Zhao Changpeng's crimes are lighter and Binance's influence may make it more transactional. Trump's support for cryptocurrencies and Zhao Changpeng's willingness to cooperate have increased his probability of pardon, but the final result is still full of uncertainty due to the lack of direct evidence.