Changpeng Zhao, the former CEO of Binance, has vehemently denied a recent report by the Wall Street Journal (WSJ) suggesting he is in talks with the family of US President Donald Trump regarding an investment deal in Binance.US, the American arm of the global Binance crypto exchange. On March 13, Zhao took to social media to refute the claims, calling the article an attempt to undermine both the US president and the crypto industry. He made it clear that he had no involvement in any discussions related to Binance.US.
In a tweet, Zhao stated, “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. Fact: I have had no discussions of a Binance US deal with … well, anyone.” He also suggested that the anti-crypto sentiment from the previous US administration may have influenced the report, stating, “Feels like the article is motivated as an attack on the President and crypto, and the residual forces of the ‘war on crypto’ from the last administration are still at work.”
Addressing the issue of a presidential pardon, Zhao commented, “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.”
The WSJ report claimed that President Trump’s family is considering an investment in Binance.US, with discussions allegedly including the possibility of a presidential pardon for Zhao, who pleaded guilty to federal violations in late 2023. The plea agreement resulted in a $4.3 billion settlement for Binance and a four-month prison sentence for Zhao. A presidential pardon could potentially help clear legal obstacles for Binance and support its global expansion.
The report also linked the Trump family’s potential investment to their DeFi venture, World Liberty Financial (WLF), with Steve Witkoff, a WLF executive and Trump’s advisor on global negotiations, reportedly involved in the discussions.
This report comes at a time when Binance.US has seen positive developments in the US market, including the resumption of USD deposits and withdrawals for US customers and a temporary pause in the legal battle with the US Securities and Exchange Commission (SEC).
Zhao has had a strained relationship with the WSJ, publicly criticizing the publication multiple times for what he claims are false or misleading reports about him and Binance. He has accused legacy media outlets, including the WSJ, of spreading FUD (fear, uncertainty, and doubt) about Binance and the broader crypto industry.
Despite the challenges and controversies, Binance continues to be a prominent player in the crypto space, with a strong global presence and a dedicated community of users and supporters.