Oh boy, hold onto your digital hats because this one's a doozy! Changpeng “CZ” Zhao, the big cheese of Binance, has tossed out claims about the Trump family wanting a piece of the Binance.US pie, calling it all political poppycock!
So here's the scoop: The Wall Street Journal dropped a bombshell report saying there were whispers of Trump's family getting cozy with Binance.US. But CZ, in his usual no-nonsense style, shot back on social media saying, “Nah, didn't happen. I haven't chatted about any deals with… well, anyone!”
Apparently, CZ's been getting messages from more than 20 folks who said the WSJ and other outlets were poking around, trying to confirm if CZ was cooking up a deal for a presidential pardon. The article alleged that CZ was on a mission for a get-out-of-jail-free card from Trump, which would let him dive back into the Binance action.
But CZ's calling foul on the whole thing, dubbing it a politically charged attack on both the President and the crypto world. He hinted that some leftover “anti-crypto forces” from the previous administration were still lurking around, stirring the pot.
Now, let's rewind a bit. CZ has had his own tango with the U.S. law, admitting to a slap on the wrist for not keeping a tight lid on anti-money laundering at Binance. In November 2023, Binance decided to make nice with Uncle Sam, coughing up a whopping $4.3 billion in fines and agreeing to pack up and leave the U.S. market. CZ also stepped down from his CEO throne, with whispers that he’s barred from any behind-the-scenes action at Binance right now.
But here's the juicy part: a presidential pardon could flip the script, opening doors for Binance in the U.S. once more. Since Trump took the wheel, his administration has been more crypto-friendly, loosening the regulatory reins compared to the past. And with the SEC easing off the enforcement pedal under acting Chair Mark Uyeda, some high-profile cases against crypto giants like Binance and Coinbase have hit the brakes or been tossed out altogether.
Talk about a rollercoaster in the world of digital assets! Stay tuned, crypto fans, because this saga is anything but over!
