Binance CEO CZ Denies WSJ Report on Trump Family Investment Talks
Binance CEO Changpeng Zhao (CZ) has categorically denied a Wall Street Journal (WSJ) report alleging that representatives of former President Donald Trump’s family were in talks to acquire a financial stake in Binance’s U.S. operations. The report also suggested that Zhao had sought a pardon from the Trump administration following his 2023 guilty plea for violating U.S. anti-money-laundering laws.
In a statement on X, Zhao dismissed the claims, stating, "Sorry to disappoint. The WSJ article got the facts wrong." He emphasized that no discussions regarding a potential deal involving Binance.US had taken place with anyone. Zhao further suggested that the report was politically driven, aimed at attacking both President Trump and the cryptocurrency industry. He accused the article of being part of the "residual forces of the ’war on crypto’" from the previous administration.
The WSJ cited unnamed sources claiming that Binance had approached Trump allies last year to explore a deal that could facilitate the exchange’s re-entry into the U.S. market. Possible scenarios included the Trump family taking a stake or routing the deal through World Liberty Financial, a crypto venture backed by Trump’s family.
Addressing the pardon allegations, Zhao remarked, "No felon would mind a pardon," adding, "It’s good to see that even WSJ thinks I should be pardoned."
This development underscores the ongoing challenges Binance faces in navigating U.S. regulatory environments and highlights the broader tensions between cryptocurrency platforms and governmental oversight.
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