Changpeng Zhao has denied a report suggesting he is in talks with the family of former US President Donald Trump regarding an investment in Binance.US, the American arm of the international Binance crypto exchange.
On March 13, Zhao expressed his refutation on X, labeling the article as an effort to tarnish both the US president and the cryptocurrency sector. He emphasized that he has not participated in any negotiations concerning Binance.US.
The former Binance CEO remarked:
“They probably consulted with hundreds of individuals to have just 20 reach out to me. Essentially, they made a concerted effort to create a narrative. The fact is, I have had no discussions about a Binance US deal with… well, anyone.”
Zhao further suggested that ongoing negative attitudes towards crypto stemming from the previous US administration might have influenced the report, stating:
“It feels like the article is intended as a strike against the President and the crypto industry, with remnants of the previous administration’s ‘war on crypto’ still at play.”
When it came to the topic of a presidential pardon, the former Binance CEO commented:
“No felon would object to a pardon, especially when being the only individual in US history sentenced to prison for a single violation of the BSA.”
Report Details
According to the report, President Trump’s family is purportedly looking into an investment in Binance.US.
Additionally, the claims suggest that discussions included the potential for a presidential pardon for Zhao, following his guilty plea to federal charges in late 2023.
Zhao’s plea resulted in a $4.3 billion settlement for Binance and a four-month prison sentence for himself. A presidential pardon could eliminate legal hurdles for Binance and support its global expansion efforts.
The report also indicated that the Trump family might channel its investment through its DeFi venture, World Liberty Financial (WLF), linking executive Steve Witkoff, an advisor to Trump on international negotiations, to the discussions.
This report surfaces during a period of improved prospects for Binance.US in the US market. The exchange has recently reinstated USD deposits and withdrawals for its US clientele and sees a temporary pause in its legal conflict with the US Securities and Exchange Commission (SEC) lasting 60 days.
Poor Relations with Certain Media
Zhao has repeatedly criticized this media outlet for what he believes are inaccurate or misleading reports concerning himself and Binance.
In response to an article claiming closer connections between Binance and Binance.US than previously stated, based on leaked Telegram messages and interviews with anonymous sources, Zhao tweeted “4,” referencing his prior guidance to his followers to disregard “FUD, fake news, attacks, etc.” This has since become a popular meme within the crypto community.
Zhao has consistently accused mainstream media, including this outlet, of disseminating FUD about Binance and the wider crypto landscape. He has frequently urged his followers to ignore such articles, characterizing them as sensationalist or biased against cryptocurrency.
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