The Wall Street Journal reported Thursday that while the founder of cryptocurrency exchange Binance is seeking a presidential pardon, representatives of President Donald Trump’s family have been in talks to purchase a financial stake in the US branch of the company.
Changpeng Zhao, the founder of Binance, has been begging with the Trump administration for leniency after serving four months in prison after entering a guilty plea to breaking anti-money-laundering regulations. Zhao, often known as CZ, resigned as CEO of Binance after the business reached a $4.3 billion settlement with US authorities in 2023, although he still holds the largest stake in the company.
The Journal claims that the discussions started when Binance reached out to Trump supporters last year with an offer of a business arrangement with the family as part of a plan to reenter the US market.
The Trump family may choose to invest directly or through World Liberty Financial, a cryptocurrency business that the Trumps support and which debuted in September. An administration official denied to the Journal that Steve Witkoff, a longtime Trump buddy and his chief negotiator in the Middle East and Ukraine, has been involved in the talks.
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