Trump Family in Talks to Buy Stake in Binance.US

Reports suggest that the Trump family may be negotiating to acquire a stake in Binance, the largest crypto exchange in the world.

If the Trump family’s purchase of a stake in Binance turns out to be true, it could mark a major turning point for the crypto market as the president of a nation becomes more deeply involved in this sector.

Trump Family to Invest in Binance?

Although neither the Trump family has officially confirmed this information, many investors believe it is entirely plausible. This stems from the Trump family’s recent crypto-friendly stance.

Meanwhile, reports from the Wall Street Journal also suggest that Binance’s founder and former CEO Changpeng ‘CZ’ Zhao is urging Trump to pardon him after his 2023 guilty plea.

The reports have caused mixed reactions among the crypto community. While some are optimistic about the US president’s family having a direct stake in crypto, others are skeptical about the level of centralized power this might bring to the industry.

“Trump and Melania literally open a meme coin which they own 80% of the tokens, and any corrupt party including foreign governments can buy in to put money in Trump’s pockets. Now this?” wrote Ed Krassenstein.

At the same time, Binance is evidently looking for new investors. Yesterday, the Abu Dhabi government-backed wealth fund announced a $2 billion investment in the exchange. It has been labeled as the largest single investment in a crypto business.

It looks like Trump’s family might be considering entering the Binance investment scene. Trump’s family are known to be significantly pro-crypto.

In 2024, Trump and his sons backed the DeFi project World Liberty Financial (WLF). Just months after its launch, the project completed 99.2% of its sales of 25 million WLFI tokens.

CZ Denies Any Talks With the Trump Family

Despite the reports, the former Binance CEO has denied any talks regarding Binance.US deals. He claimed that the WSJ report was false, and it provoked people into providing misleading information.

Also, CZ claims that several close affiliates told him about media publications asking about his pardon.

“They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report. I have had no discussions of a Binance US deal with … well, anyone. No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge,” CZ wrote on X (formerly Twitter).

Given his current stature, Trump’s involvement with Binance could further solidify his serious intent to advance the cryptocurrency market.

However, it could also spark significant controversy surrounding potential conflicts of interest. If the Trump family owns a stake in Binance, it may lead to accusations that Trump’s policies are influenced by personal gain.

This concern becomes even more pressing, especially as Binance remains under scrutiny from regulatory agencies.