According to a Wall Street Journal report on Thursday, which quotes sources that are familiar with the case, the Trump family is in discussion to acquire an interest in Binance.us, which may increase their involvement in the crypto sector. At the same time, Changpeng “CZ” Zhao, the founder of Binance, is actively seeing a grace of President Trump after his imprisonment for legal violations, added the report.
Trump takes a daring move for Binance
Since the return to the White House, President Donald Trump has actively influenced the cryptocurrency market. In a surprising turn, the Trump family is now reporting to acquire an interest in Binance US. According to To the Wall Street Journal, these conversations include buying the American branch of the cryptocurrency exchange.
The conversation started when Binance sought connections with Trump’s allies last year, with the aim of reintegrating the American market through a business partnership with the Trumps. The family could possibly keep this bet directly or via World Liberty Financial, their crypto company established in September.
This deal would link the Trumps to a company known to break anti-money laundering laws in 2023. Binance, after he resolved these violations by paying fines a total of $ 4.3 billion in 2023, sees a pardon for his founder, Zhao, as essential for re -entering the American market.
Read also: MGX makes a historical investment of $ 2 billion in Binance, marks the largest single investment in Crypto
Zhao, who owns the majority of Binance and served four months in prison after a guilty plea, is now located in Abu Dhabi.
Steve Witkoff, a close Trump fellow fellow and important negotiator for Trump in the conflict in the Middle East and Ukraine, is reportedly part of these discussions. Nevertheless, an administration officer has denied the participation of Witkoff and notes that he is currently coming back from his business functions.
A deal with a gratitude seeker and the investment of the Trump family in Binance. US would fade the lines between the government of Trump and business roles, which extensively becomes the extensive executive orders.
Credit : coinpedia.org
