Representatives of President Trump's family have reportedly been discussing acquiring a stake in the US arm of crypto exchange Binance as the former Coinbase competitor (banned in the US in 2019) plots its re-entry into the world's largest and most pro-crypto economy. This also comes as Binance founder Changpeng Zhao (CZ) pursues a presidential pardon after pleading guilty to violating US anti-money-laundering laws in 2023.
The Wall Street Journal, citing sources familiar with the matter, reports that Trump family members and associates have been discussing with Binance about acquiring a stake in its US arm through World Liberty Financial, a cryptocurrency venture backed by the Trumps.
Sources continued that Trump's longtime friend, Steve Witkoff, now his top negotiator in the Ukraine War and the Middle East, has also been involved in the talks for a deal.
Binance, the world's largest cryptocurrency exchange, has faced regulatory challenges in the US. In 2019, due to regulatory threats, Binance ceased its primary operations in the US. Officials claimed the exchange facilitated transactions for Hamas and Islamic State and violated AML laws.
