Representatives of the Trump family are said to have discussed with Binance the purchase of shares in the crypto exchange's US branch.
According to information from The Wall Street Journal, representatives of the Trump family have discussed the purchase of financial shares in the US branch of the cryptocurrency exchange Binance.
At the same time, Changpeng Zhao, the founder and former CEO of Binance, is also making efforts to lobby the Trump administration for a pardon. This happens despite Zhao pleading guilty in November 2023, as part of a settlement between the exchange and US authorities.
The discussions are said to have started after Binance approached Trump allies last year, in an effort to reach a deal to help Binance regain its footing in the US market. Last month, Binance.US officially resumed fiat deposits and withdrawals for the first time since 2023, when the SEC sued Binance for securities violations, leading to the exchange's banking partners cutting ties.
It is unclear if a deal materializes, how the Trump family would own the shares, or whether the deal would have any conditions related to a pardon. Possibilities include direct investment or through the Trump family-backed DeFi World Liberty Financial project.
Zhao, also known as CZ, was sentenced to four months in prison in April last year after pleading guilty to failing to maintain an effective anti-money laundering program. Zhao was fined $50 million, while Binance agreed to pay $4.3 billion, marking one of the largest settlements in corporate litigation history.
Zhao was released in September and remains the largest shareholder of Binance.
Follow CoinMoi to stay updated on the hottest crypto market issues!
The article Trump Family Discusses Buying Binance Shares first appeared on CoinMoi.
