US President Donald Trump’s family is reportedly negotiating a financial stake in Binance.US, the American counter-part of the cryptocurrency exchange, Binance as per WSJ. This development coincides with Binance founder and former CEO, Changpeng Zhao actively seeking presidential pardon to facilitate the company’s return to the U.S. market.
The investment can be made directly or through the family crypto venture World Liberty Financial (WLF). This investment will help Binance to re-establish its presence in the US after all the regulatory challenges it has faced in the region back in 2023.
CZ was Pleaded Guilty for Anti-Money Laundering Charges
The exchange was accused for violating anti-money laundering regulation, where CZ even served a four months prison sentence after pleading guilty of these serious charges.
CZ, who remains to be the exchange’s largest shareholder, has publicly expressed his willingness to receive a pardon from President Trump. In the recent months, other prominent figures in the industry such as Charles Hoskinson, founder of Cardano, John Lilic, founder of TelosX, have called on Trump to grant CZ clemency.
These leader also appreciated the work that has been put forward by CZ within the cryptocurrency industry. Even though pardon cannot erase the convictions but it could mitigate its impact on the business and help Binance regain credibility within the region.
The crypto community thinks that Trump’s crypto stance may influence this decision. However, critics, on the other hand, are raising concerns about the overlap between Trump’s governmental role and his family’s business interests in a firm linked into a convicted individual seeking clemency.
Reason Behind Trump’s Family Negotiating Stakes in Binance.US
Recently Binance also received a $2 billion investment from Abu Dhabi-based investment firm, MGX, marking its first institutional single investment in the crypto industry. Speculations suggest that this investment could also have influenced Trump’s family decision to explore its involvement with the exchange.
With WLFs diverse portfolio, Trump family’s investment in DeFi and Real World Asset tokens suggest that with all of this there would be a long-term commitment to the sector, making Binance an attractive partner and this will also help make a re-entry into the US market.
Even though the real motive behind this consideration is not known yet, but the community as of now can only wait and let the situation unfold itself.
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