Donald Trump’s family is reportedly eyeing acquiring a stake in the US arm of the crypto exchange Binance. This comes as the exchange’s founder is allegedly seeking a pardon for his guilty plea in 2023, which led to his imprisonment.
Trump’s Family Eyes Stake In Binance US
According to a WSJ report, US President Donald Trump’s family representatives have held talks to acquire a stake in Binance’s US arm. This comes just after the top crypto exchange announced that Abu Dhabi-based MGX had invested $2 billion in the exchange to acquire a minority stake.
Meanwhile, the WSJ report also revealed that the exchange’s founder Changpeng “CZ” Zhao is also pushing for Trump’s administration to grant him a pardon. Last year, CZ served a four-month sentence after he and Binance US pleaded guilty to anti-money laundering violations. A pardon will wipe Zhao’s criminal record away from the registry, meaning he will no longer be regarded as an ex-convict.
The Correlation Between Both Developments
Both the Trump family’s move to acquire a stake in Binance US and CZ’s push for a pardon could intertwine, especially considering that the exchange’s founder is allegedly still the largest shareholder. As such, he could play a major role in Trump’s move to acquire a stake in the top crypto exchange’s US arm.
WSJ also revealed that the talks to acquire a stake in the crypto exchange began after Binance reached out to Trump’s allies in 2024 offering to strike a deal with the family as part of its strategy to revive the exchange’s US arm. It is worth mentioning that the US arm resumed its USD services after Trump took office in January.
According to WSJ, it is still unclear what form the Trump family stake would look like if the deal happens or even whether it would depend on Trump granting CZ a pardon. Meanwhile, the report noted that there is also the possibility of the deal going through World Liberty Financial, which the Trump family has ties with.
The post Breaking: Trump Family Eyes Stake In Binance US As CZ Seeks Pardon appeared first on CoinGape.
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