CZ Denies Trump Family Involvement in Binance.US Investment

By: Eliza Bennet

Recent reports have spurred speculation over a potential investment by Donald Trump's family in Binance.US, the American division of the global Binance cryptocurrency exchange. However, Changpeng Zhao (CZ), the former CEO of Binance, has refuted these claims. On March 13, Zhao took to social media to dismiss the Wall Street Journal (WSJ) report that suggested such discussions were underway, labeling the report as a misguided attempt to attack both the US president and the broader crypto industry.

The WSJ article indicated that the Trump family was purportedly exploring options to invest through a DeFi venture called World Liberty Financial. Additionally, the discussions were reported to potentially include talks of a presidential pardon for CZ, following a $4.3 billion settlement with US authorities linked to federal violations. Such a pardon could hypothetically eliminate legal barriers for Binance's expansion.

Zhao, who served a four-month sentence as part of a plea deal, strongly denied any involvement in the alleged discussions. He emphasized that no conversations occurred between him and the Trump family concerning such a deal. Zhao also noted that the report seemed to stem from a lingering anti-crypto agenda from the previous US administration.

Despite these claims, Binance.US appears to be on the rise in the United States. The exchange has recently resumed USD transactions for Americans and has seen an improvement in its legal standoff with the US Securities and Exchange Commission (SEC). In the crypto community, Zhao’s responses on social media have become a rallying cry against what he perceives as coordinated media attacks, often referring to the reports as FUD—fear, uncertainty, and doubt.