Representatives of US President Donald Trump’s household have reportedly held talks with Binance about buying a stake within the crypto trade.
Binance reached out to Trump’s household representatives in 2024, providing to strike a deal as a part of a plan to renew Binance.US operations within the nation, The Wall Road Journal reported on March 13.
Citing sources conversant in the matter, the report talked about that Binance’s billionaire founder Changpeng Zhao — who served four months in prison in the US — has been pushing for the Trump administration to grant him a pardon.
“It's unclear what type the Trump household stake would take if the deal comes collectively or whether or not it could be contingent on a pardon,” the report mentioned.
World Liberty Monetary amongst deal choices
In keeping with WSJ, a possible alternative may very well be a situation the place Trump takes the stake in Binance or proceeds with the deal via World Liberty Financial, a Trump-backed crypto enterprise launched in September 2024.
Trump has emerged as the primary US “crypto president,” launching his Official Trump (TRUMP) memecoin days earlier than returning to the White Home on Jan. 20. An identical memecoin subsequently came from Trump’s wife, Melania, whereas Trump’s son, Eric Trump, has been actively pushing for Bitcoin (BTC) and crypto adoption.
Cointelegraph approached Binance for a remark relating to the report on the alleged deal however didn't obtain a response by publication.
Trump slams WSJ for “polluted considering” of the EU
Minutes earlier than the WSJ article was revealed at 1:00 pm UTC, Trump took to Fact Social to slam the publication for allegedly reporting unsuitable info.
“The Globalist Wall Road Journal has no thought what they're doing or saying. They're owned by the polluted considering of the European Union, which was fashioned for the first objective of ‘screwing’ the US of America,” the president wrote.
Supply: Donald Trump
Whereas Trump was quick to handle the WSJ report minutes earlier than its publication, main Trump-linked business figures — together with Elon Musk and David Sacks — didn't react to the information on social media.
Associated: Donald Trump’s memecoin generated $350M for creators: Report
Binance’s Zhao and CEO Richard Teng additionally didn’t reply to the report within the first hour of its publication.
Binance CEO praises Trump as a catalyst for a “world pro-crypto shift”
As a substitute, Teng took to X on March 13 to focus on his new interview with CNBC, the place he praised Trump as a catalyst for a “world pro-crypto shift.” Teng expressed confidence that the crypto business is broadly supporting Trump, stating:
“If you happen to ask anyone within the crypto business, folks favor the present administration in comparison with the final one.”
Nonetheless, some apparently haven't been proud of all of Trump’s crypto insurance policies, with many advocating for Bitcoin-only US reserves as an alternative of a multi-crypto approach chosen by the administration.
Home Democrats have additionally been involved concerning the plummeting TRUMP memecoin, proposing laws to ban the issuance of memecoins by any US public officers.
Journal: Trump’s crypto ventures raise conflict of interest, insider trading questions
