- The Trump family is negotiating to acquire a stake in Binance.US as CZ seeks a pardon following his conviction.
- Binance aims to reenter the U.S. market after paying $4.3 billion in fines last year for legal violations.
The Trump family is in talks to acquire a stake in Binance.US, the American division of the cryptocurrency exchange, according to a Thursday report by The Wall Street Journal. Sources indicate the discussions include potential financial involvement through the family’s existing crypto venture, World Liberty Financial, launched in September.
Separately, Binance founder Changpeng “CZ” Zhao, who served four months in prison after pleading guilty to regulatory violations, is reportedly seeking a presidential pardon.
The negotiations follow efforts by Binance to rebuild its presence in the U.S. market after resolving a 2023 federal case. The company admitted to lapses in anti-money laundering controls and paid $4.3 billion in fines. A pardon for Zhao, who retains majority ownership of Binance and now resides in Abu Dhabi, could ease the exchange’s path to renewed operations.
Steve Witkoff, a real estate developer and Trump associate, has been named as a participant in the discussions. Witkoff, who has advised the former president on international matters, denies current involvement. A representative stated Witkoff is reducing his business activities. The Trump administration has not publicly addressed the reports.
If finalized, the deal would connect the Trump family to a company with recent legal challenges. It could also raise questions about overlapping interests between political influence and private enterprise. Binance’s push for a pardon coincides with the family’s exploration of crypto ventures, which align with recent federal policies favoring digital asset growth.
Legal experts note that presidential pardons for financial crimes are uncommon but not unprecedented. The outcome may hinge on whether Zhao’s case is viewed as resolved through existing penalties or requires further intervention. Meanwhile, Binance.US continues operating under restrictions imposed by regulators.
The discussions remain fluid, with no formal agreement confirmed. A Trump spokesperson declined to comment. The White House has not issued statements regarding potential pardons linked to the case.
Binance.US, which operates independently from its global counterpart, has faced scrutiny over compliance and transparency. A partnership with the Trump family could alter its regulatory standing, though details on terms or timelines are undisclosed.
