Are you following Justin Sun example and sticking to Trump to try to turn things around? Binance is rumored to be "negotiating business transactions with the Trump family" and plans to list the WLFI stablecoin
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According to the Wall Street Journal report, Binance's top executives met with U.S. Treasury officials last month and requested the removal of U.S. supervisors overseeing its anti-money laundering compliance. If approved, this would be an important step for Binance to return to the U.S. market.
Additionally, Binance is in talks to list the USD1 stablecoin issued by the Trump family's crypto project World Liberty Financial. Informed sources say that if Binance includes USD1 on its platform, it could potentially push it into a massive market and bring billions of dollars in potential profits to the Trump family.
The report indicates that for World Liberty Financial, Binance's market dominance could help it become a significant player in the crypto industry. Binance has over 250 million users with daily trading volumes of $65 billion. The more USD1 in circulation, the more potential profit the Trump family could gain.
For Binance, Trump's presidential power might help it escape legal troubles. Binance reached a settlement with U.S. authorities in 2023, facing strict restrictions, including leaving the U.S. market, reporting all past suspicious transactions, and allowing two independent supervisors appointed by the Treasury and Justice Departments to oversee operations for five and three years respectively.
Meanwhile, the report also mentioned that during the Biden administration, the U.S. Department of Justice has been investigating potential financial crimes by Justin Sun. It remains unclear if the investigation is ongoing, and some sources revealed that CZ agreed in a previous plea agreement to provide evidence related to Justin Sun's potential crimes to prosecutors.
However, CZ responded on Twitter that many people told him the Wall Street Journal was writing another baseless article attacking him.
Previously, the Wall Street Journal reported that Binance was seeking a pardon for CZ, and Trump family representatives discussed potentially investing in Binance.US. CZ firmly denied these reports last month, stating he had no business collaboration with World Liberty Financial and had not discussed any Binance.US transactions, but noted that "no criminal would refuse a pardon."
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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