Binance News: Trump Family Considered Investing in Binance.US, CZ Denies Claims

Binance, one of the world’s largest cryptocurrency exchanges, has been at the center of recent rumors regarding a potential investment by the Trump family in its U.S. division. However, Binance’s CEO, Changpeng Zhao (CZ), has refuted these claims. Here’s a closer look at the developments and their impact on BNB, Binance’s native token.

CZ Refutes Claims of Trump Family’s Talks on Binance.Us Investment

BNB, the native token of Binance, surged by approximately 7.40% to tap $613 on Thursday before recoiling. According to sources cited by The Wall Street Journal (WSJ), Donald Trump’s family members have considered acquiring a stake in Binance’s U.S. division. Discussions reportedly began in 2024, when Binance.US was actively seeking strategic partners to strengthen its position in the American market. While the exact terms of the discussions remain unclear, speculation suggests that the Trump family’s interest in Binance.US aligns with its broader involvement in the crypto space.

Binance Founder CZ Denies Trump Family Investment, Pardon Talks

Representatives for the family of U.S. President Donald Trump are holding discussions with Binance about investing in its U.S. arm, according to a Wall Street Journal report on Thursday. The WSJ said that the exchange giant’s founder Changpeng ’CZ’ Zhao, who is the firm’s largest shareholder, was also seeking a pardon, citing people familiar with the matter. Zhao denied the WSJ report, stating that he has had no discussions of a Binance US deal with anyone. Zhao had pleaded guilty on money laundering charges in November 2023 and served four months in prison, but the WSJ article got the facts wrong according to him.