Representatives of President Donald Trump’s family have reportedly been in discussions to acquire a financial stake in the US branch of crypto exchange Binance, according to the Wall Street Journal.
Changpeng Zhao, Binance’s billionaire founder, has been advocating for a pardon from the Trump administration, as noted by sources familiar with the situation.
In November 2023, Zhao stepped down as CEO of Binance, pleading guilty to violating US anti-money laundering laws as part of a $4.3 billion settlement, which concluded a lengthy investigation into the world’s largest crypto exchange.
According to the Journal, Binance approached Trump’s allies last year, proposing a business deal with his family as part of a strategy to re-establish the company in the US. It remains unclear what form the Trump family’s stake would take if the deal proceeds or if it would depend on a pardon.
