Trump Family and Binance: A Tale of Speculation and Sarcasm! 😂

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In a world where cryptocurrency reigns supreme and the only thing more volatile than Bitcoin is the weather, Changpeng Zhao, affectionately known as CZ (not to be confused with a particularly grumpy cat), has taken to the digital stage to quash the latest rumors. Apparently, the Trump family is not, I repeat, NOT in talks to buy a slice of the Binance pie. 🍰

This little nugget of denial came hot on the heels of a Wall Street Journal report that suggested the Trump clan was negotiating a financial stake in Binance’s American operations. Because, of course, what better way to invest than in a company that’s been through more ups and downs than a rollercoaster designed by a particularly mischievous gnome?

Binance’s Former CEO Responds To Speculative Reports

In a tweet that could only be described as a digital facepalm, Zhao declared, “Sorry to disappoint. The WSJ article got the facts wrong. Fact: I have had no discussions of a Binance US deal with…well, anyone.” It seems the only discussions he’s having are with his cat about the merits of catnip. 🐱

Bloomberg, in its infinite wisdom, also reported that the Trump family’s World Liberty Financial (WLFI) had previously engaged in talks with Binance about a new US dollar-backed stablecoin. But, as with most things in life, the details are as clear as mud. 🐾

Interestingly, Zhao did meet with Steve Witkoff, co-founder of World Liberty and former President Trump’s Middle East envoy, at the Bitcoin MENA 2024 conference. This was three months after his release from a halfway house, which sounds like the beginning of a very bad joke. “So, a crypto CEO walks into a conference…”

However, Zhao was quick to dismiss Bloomberg’s report, suggesting it was based on more speculation than a fortune teller at a county fair. He emphasized that neither he nor Binance had any dealings with World Liberty or its representatives, nor had they acquired any World Liberty Foundation (WLF) tokens. Because who needs tokens when you have a perfectly good cat to pet?

CZ Addresses Pardon Speculation

The Wall Street Journal, in its quest for sensationalism, claimed that discussions about a potential investment by the Trump family have been ongoing since last year. They cited unnamed sources, which is always a good sign that the truth is somewhere in the vicinity of a unicorn. 🦄

They also mentioned Zhao’s past legal troubles, including a guilty plea related to Binance’s failure to monitor for money laundering. This resulted in a four-month prison sentence, which is a bit like being grounded but with less Netflix. 📺

In his posts on X, Zhao suggested that the Journal’s article was politically motivated, reflecting an ongoing anti-crypto sentiment from the Biden administration. He expressed concerns that these narratives are part of a broader “war on crypto” that extends from the previous administration. Because, of course, the only thing more contentious than politics is cryptocurrency!

CZ also humorously addressed the idea of seeking a presidential pardon, stating, “No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge.” Talk about a unique claim to fame! 🎖️

The timing of Zhao’s denial is significant, as Binance’s US division recently reinstated its American dollar-backed fiat services after nearly two years. It’s like a phoenix rising from the ashes, but with more paperwork.

Binance has faced significant challenges in the US after the Department of Justice (DOJ) charged the company with violating anti-money laundering (AML) laws. This led to a record $4.3 billion settlement in 2023, which is a lot of zeros to count. 💰

As part of this agreement, Zhao pled guilty to related charges and stepped down as Binance’s CEO, serving four months in prison before his release in September of the past year. It’s a bit like a reality show, but with fewer roses and more legal briefs.

While Binance continues to navigate ongoing litigation with the Securities and Exchange Commission (SEC), there are signs that these legal challenges may be drawing to a close. The SEC has paused litigation against Binance for 60 days, which is like hitting the snooze button on a very annoying alarm clock.

At the time of writing, Binance Coin (BNB), the exchange’s native

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2025-03-14 16:44