The Wall Street Journal (WSJ) reported that the representatives of US President Donald Trump’s family held discussions with Binance about potentially acquiring a stake in the world’s largest cryptocurrency exchange.
On 13 March 2025, the WSJ said that Binance reached out to Trump’s family representatives in 2024, offering a business deal as part of a broader strategy to resume Binance. This move also comes at a time when Binance ex-CEO Changpeng Zhao is looking for a Presidential pardon.
Criticizing the report, Zhao said, “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 also suggested that Trump might acquire a stake in Binance or use his crypto venture, World Liberty Financial (WLFI), for a similar deal.
BREAKING: Trump Family Has Been in Talks for Stake in Crypto Exchange Binance, Sources Say – WSJ$BNB > 600 pic.twitter.com/fyP4brUZOw
— HodlFM Team (@Hodl_fm) March 13, 2025
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Trump And Zhao Criticize TSJ
4. Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), “Can you confirm that CZ made some deal for a pardon?”
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
— CZ
BNB (@cz_binance) March 13, 2025
For Binance, this potential partnership represents a critical opportunity to re-enter the US market after facing significant regulatory challenges.
Zhao, who served four months in prison in the US after pleading guilty to violating anti-money laundering requirements, has been pushing for the Trump administration to grant him a pardon. In the past, the company’s US arm saw its market share plummet from 27% to just over 1% following regulatory actions.
Reportedly, Steve Witkoff, a long time Trump friend who serves as his special envoy to the Middle East, has been involved in the negotiations.
Meanwhile, Trump has criticized the WSJ. “The Globalist Wall Street Journal has no idea what they are doing or saying. They are owned by the polluted thinking of the European Union, which was formed for the primary purpose of ‘screwing’ the United States of America,” Trump wrote on Truth Social.
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Key Takeaways
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US President Donald Trump’s family may have held discussions with Binance about potentially acquiring a stake in the world’s largest cryptocurrency exchange.
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Trump might acquire a stake in Binance or use his crypto venture, World Liberty Financial (WLFI), for a similar deal.
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