Trump Family Is in Talks to Acquire a Stake in Binance.US

According to a Wall Street Journal report on Thursday, which cites sources familiar with the matter, the Trump family is in discussions to acquire a stake in Binance.US

A report by the Wall Street Journal on Thursday, citing sources familiar with the matter, revealed that the Trump family is discussing investing in Binance.US. At the same time, Changpeng "CZ" Zhao, the founder of Binance, is seeking a pardon from President Trump following his imprisonment for regulatory violations, the report added.

Trump Family Could Invest in Binance.

Since returning to the White House, President Donald Trump has been making a strong impact on the cryptocurrency market. In a new development, the Trump family is reportedly in talks to acquire a stake in Binance US, further increasing their involvement in the crypto sector.

According to the report by the Wall Street Journal, these discussions involve the family buying into the American branch of the cryptocurrency exchange. The conversation began when Binance sought connections with Trump’s allies last year, aiming for a reintegration into the US market through a partnership with the Trumps.

The family could potentially hold this stake either directly or through World Liberty Financial, their crypto venture established in September. This deal would link the Trumps with a company that has confessed to breaking anti-money laundering laws. Binance, having settled these violations by paying fines totaling $4.3 billion in 2023, sees obtaining a pardon for its founder, Zhao, as crucial for its return to the US market.

CZ Seeks Pardon After Prison Sentence.

Zhao, who holds the largest portion of Binance and served four months in prison after pleading guilty, is now based in Abu Dhabi.

The report also mentions Steve Witkoff, a close Trump ally and key negotiator for Trump in the Middle East and Ukraine conflict, as part of these discussions. However, an administration official has denied Witkoff’s involvement, stating that he is currently stepping back from his business roles.

A deal involving a pardon request and the Trump family’s investment in Binance.US would intertwine Trump’s governmental and business positions, expanding their crypto activities. This follows President Trump’s executive orders that set the stage for broad-based adoption of digital assets in the US.