Hold onto your hats, crypto enthusiasts, because there's a whirlwind of rumors swirling around Binance.US! Changpeng Zhao, the charismatic crypto mogul better known as CZ, has called out a recent Wall Street Journal article, which claimed that Trump family reps were chatting about buying a slice of Binance.US. CZ isn't having any of it, chalking up the report to being politically charged and full of inaccuracies.
In a spicy twist, CZ took to social media to declare, “I haven't talked to anyone about a Binance US deal.” It seems that over 20 people reached out to him, saying they got a nudge from the WSJ and another media shark, fishing for details on an alleged deal for clemency.
The report went as far as to suggest that CZ was angling for a presidential pardon from Trump, which would have paved the way for him to step into a leadership role at Binance. But CZ clapped back, dismissing the claims as a politically motivated jab not just at him but at crypto itself. He believes some remnants of the “war on crypto” from previous administrations are still lurking in the shadows.
Having done time after pleading guilty to breaking U.S. anti-money laundering laws, CZ is now the only soul in U.S. history to get a prison sentence for a single Bank Secrecy Act violation. He cheekily noted, “No felon would mind a pardon,” but emphasized his commitment to championing crypto in the U.S. and beyond.
Fast forward to November 2023, Binance agreed to a whopping $4.3 billion settlement with U.S. authorities. As part of this deal, CZ admitted to not having a robust anti-money laundering program at the exchange, and Binance vowed to exit the U.S. market entirely. CZ also stepped down as CEO, with reports hinting he's permanently benched from running the Binance show under the settlement terms.
While a presidential pardon could shift the gears for Binance's U.S. operations, the Trump administration has been more friendly towards digital assets, unwinding the tight regulatory ropes of the past. The SEC, led by acting Chair Mark Uyeda, has eased its crackdown on crypto firms, even pausing or dropping several high-profile cases, including those involving Binance and Coinbase.
So, as the crypto world turns, the saga of CZ, Binance, and the Trump connection continues to unfold, keeping us all on the edge of our seats!
