The Trump family has reportedly held discussions about acquiring a stake in Binance’s U.S. arm, potentially linking them to the world’s largest cryptocurrency exchange, which previously pleaded guilty to violating anti-money laundering laws.

According to sources cited by The Wall Street Journal and Bloomberg, the deal could be routed through World Liberty Financial, a cryptocurrency venture backed by Donald Trump and his sons, Eric and Don Jr. The firm funnels 75% of its profits to Trump-related entities, raising concerns over potential conflicts of interest.

A Strategic Partnership or Political Favor?

The reports suggest that Binance first approached Trump allies last year, seeking to reestablish its footing in the U.S. following regulatory scrutiny. At the same time, Changpeng Zhao (CZ), Binance’s founder, was exploring avenues for a presidential pardon after serving a four-month prison sentence for violating anti-money laundering laws.

However, Zhao denied any such discussions, posting on X:

"Sorry to disappoint. The WSJ article got the facts wrong. I have had no discussions of a Binance US deal with… well, anyone."

He further suggested that the story was part of a broader attack on cryptocurrency and the current administration, claiming that "residual forces" from the previous administration’s "war on crypto" were still at work.

Binance has been working to rebuild its credibility after agreeing to a $4.3 billion settlement in 2023 to resolve a criminal investigation into its lax financial controls. Prosecutors had accused the exchange of allowing illegal transactions, including funds linked to terrorist organizations such as Hamas.

Despite these challenges, an investment from the Trump family could help Binance.US expand under a more pro-crypto administration, as Trump has positioned himself as the "crypto president." His recent moves—such as advocating for a strategic Bitcoin reserve and launching the $Trump memecoin, which once reached a multi-billion-dollar valuation—signal a stark policy shift from the regulatory stance under Joe Biden.

Political and Business Entanglements

One key figure in the reported negotiations is Steve Witkoff, a real estate investor and longtime Trump ally who now serves as his chief negotiator on Middle East affairs. Witkoff’s son, Zach, is a co-founder of World Liberty Financial, further intertwining Trump’s political and business dealings.

The White House has not commented on the matter, and Binance.US has declined to provide statements regarding the potential investment.

If a deal materializes, it would mark a dramatic comeback for Binance.US—just as Trump moves to roll back regulations that have weighed on the crypto industry. The potential arrangement also raises ethical concerns, given the legal history of Binance and the implications of a possible quid pro quo involving a presidential pardon.

As regulatory battles continue and Trump’s crypto ambitions expand, this potential partnership could reshape the cryptocurrency landscape in the U.S.—for better or worse.