“I never discussed a deal regarding Binance US with anyone.” Zhao wrote on Platform X. “The WSJ article is false.”
Changpeng Zhao, founder and former CEO of Binance
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Zhao denied the report, which claimed that representatives of the Trump family had negotiated to invest in the U.S. branch of Binance last year, citing unnamed sources. The WSJ article also alleged that Zhao sought a pardon from President Donald Trump after pleading guilty and serving four months in prison on charges related to Binance’s failure to adequately screen for money laundering activities.
* [WSJ: Trump Family Negotiated to Buy Stake in Binance](https://www.wsj.com/articles/trump-family-negotiated-to-buy-stake-in-binance-11647256601)
Fortune was unable to independently verify the claims. The White House declined to comment when contacted by Fortune, while Binance and the Trump Organization did not respond to requests for comments.
Zhao, via Platform X, suggested that the article could be an “attack on the U.S. President and cryptocurrencies.” He expressed his happiness to promote the adoption of digital currencies in the U.S. and the rest of the world.
## Binance’s Restart in the U.S. Market:
The denial from Zhao comes as Binance resumes its USD services in the U.S. market after a nearly two-year hiatus, marking the company’s full return to operations in the country. This restart coincides with the Trump administration’s efforts to create a more favorable legal environment for crypto companies.
Previously, Binance was forced to shut down almost all of its business in the U.S. after the Department of Justice charged the company with violating anti-money laundering laws and operating an unregistered money-transmitting business. The company paid a record $4.3 billion in penalties to settle the case in 2023. As part of the agreement, Zhao pleaded guilty to charges related to money laundering and resigned as CEO. He was released from prison in September last year after serving four months.
Binance is still facing a lawsuit from the Securities and Exchange Commission (SEC). However, the situation may be resolved soon, as the SEC has concluded many cases against other crypto companies and agreed to a 60-day pause in its case against Binance in February 2025.
The improved regulatory environment under the Trump administration has sparked interest from foreign crypto companies in the U.S. market and boosted crypto prices. Bitcoin reached an all-time high of $109,000 in January 2025, fueled by expectations of industry-friendly policies from the Trump administration.
– 15:02 14/03/2025
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