A recent report argues that the Trump family is in talks to invest in the US division of Crypto Exchange Binance, which could encourage the company to return to the country. At the same time, Changpeng Zhao, co-founder of the exchange, also known as the “CZ,” is said to be “pushing” a pardon from the Trump administration.
Did the “Deal Talk” Trump family acquire US stakes in Vinance?
On Thursday, the Wall Street Journal (WSJ) reported that representatives of US President Donald Trump's family have been in discussions since 2024 to gain financial interests in US vinance. Those familiar with the issue say the talks began as part of the Global Exchange's plan to return to the US.
Vinans reportedly contacted Trump's camp and provided a business contract with the president's family. The company “started searching for a return to the US market last year around Trump's election victory,” and “he said he wanted to trade with Trump's company and eliminate legal issues,” the report said.
However, it was unclear how Trump's family's interests would tie in if they made a deal. According to WSJ sources, the option includes transactions through Trump Family Crypto Venture, World Liberty Financial (WLF).
Additionally, Steve Witkoff, the US Special Envoy to the Middle East, appeared to be involved in the contract consultations. Witkoff is a co-founder of WLF, but Trump administration officials denied involvement, adding that he was “in the process of selling out of his business interests.”
The report stated, “After Trump won, Vinanence established a working group under CEO Richard Teng, which includes senior legal and compliance staff, to assess options. Executives knew that Zhao's beliefs complicate returns.
As a result, the company executives have recently suspended a lawsuit against him, saying that they “see a potential legal playbook in Justin San's saga.” The route consisted of “cash injections into World Liberty Financial in exchange for Zhao's pardon.”
CZ denies claims to “push” pardons
The report also said Changpeng Zhao, co-founder and biggest stakeholder of Binance, was “promoting the Trump administration to grant him permission” in trading talks that have continued even after the US president took office.
The news sparked outrage among several crypto investors who have taken into consideration the potential financial deals of the recent Trump and Melania Memocoin controversy pardon.
CZ responded to the report in denying the allegations. In X's post, he said, “The WSJ article is incorrect.” He explained that over 20 people have informed him that they have been asked to confirm “amnesty deals” by the WSJ and other media.
Changpeng Zhao denies WSJ's allegations. Source: CZ on X
According to the founder of Binance, he has not discussed contracts with us with anyone, but said, “felons don't care about pardons, especially the only person in US history to be sentenced to prison for BSA charges.”
For him, “they tried so hard to create a story to report,” while feeling that the article “is an attack on the president and the code, and the rest of the power of the “crypto war” from the last administration is still at work.”
Meanwhile, Bloomberg reported on Thursday that WLF had “discussed about doing business with Binance Holdings Ltd., the world's largest digital asset exchange.
The article said it is unclear what stage these debates have reached, but included the possibility that the crypto exchange could develop Trump family crypto ventures and US-backed stubcoins.
BNB trades at $587 in the one-week chart. Source: BNBUSDT on TradingView
Unsplash.com featured images, tradingView.com charts
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