Binance’s Alleged Involvement in Trump-Linked Stablecoin and CZ’s Pardon Pursuit
Former Binance CEO Changpeng Zhao (CZ) reportedly backed cryptocurrency initiatives connected to the Trump family while privately seeking a U.S. presidential pardon, as uncovered in a Bloomberg News investigation. The report highlights that Binance engineers were involved in developing the smart contract for USD1, a stablecoin issued by World Liberty Financial—a company with direct ties to former President Donald Trump. This revelation raises questions about the intersection of political influence and cryptocurrency ventures, particularly involving high-profile figures like CZ and Trump. The investigation sheds light on the behind-the-scenes efforts of crypto executives to navigate regulatory and political landscapes, potentially leveraging connections for personal or corporate gain. As the crypto industry continues to evolve, such developments underscore the complex relationships between technology, finance, and politics.
Binance's Alleged Role in Trump-Linked Stablecoin and Changpeng Zhao's Pardon Pursuit
Former Binance CEO Changpeng Zhao reportedly supported cryptocurrency projects tied to the TRUMP family while privately seeking a U.S. presidential pardon, according to a Bloomberg News investigation. The report reveals Binance engineers developed the smart contract for USD1, a stablecoin issued by World Liberty Financial, a firm with direct connections to former President Donald Trump.
Blockchain data indicates nearly 90% of USD1's supply resides in Binance-controlled wallets. The stablecoin facilitated a $2 billion investment from UAE-based MGX into Binance. Official documents suggest the Trump family could earn $30 million annually from the coin's reserve assets.
Zhao's pursuit of a pardon, described as a personal endeavor, coincided with Binance's involvement in pro-Trump crypto ventures. The exchange maintains the USD1 listing followed standard procedures, distancing itself from Zhao's political activities.
Altcoin Season Gains Momentum as PENGU, HBAR, and XLM Outperform Bitcoin
Crypto markets are witnessing a pronounced altcoin rally, with Pudgy Penguins (PENGU), Hedera (HBAR), and stellar (XLM) surging over 25% amid Bitcoin's consolidation above $120K. The memecoin PENGU has emerged as the standout performer, fueled by NFT ecosystem expansion and Layer-2 anticipation.
Binance data shows BTC briefly touching $121,000 before settling at $120,759, while altcoins like ALGO and HBAR dominate 24-hour gainers. PENGU's 85% weekly rally to $0.0295 reflects growing speculative interest in NFT-backed tokens, with trading volumes exceeding $1.8 billion.
