Focus on the BIG picture.
Friday, Mar 14, 2025
Outside the box.
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The Trump family is in discussions to invest in Binance.
Conversations between the Trump family and the cryptocurrency exchange Binance revolve around a financial investment and the possibility of presidential pardons for the company's founder.
Family representatives of former President Donald Trump are reportedly in talks about acquiring a financial interest in the U.S. branch of cryptocurrency exchange Binance.
This comes as Binance's founder, Changpeng Zhao, seeks a presidential pardon after spending four months in prison for breaching anti-money laundering laws.
Zhao, commonly known as CZ, continues to be Binance's largest shareholder, despite resigning as CEO following a $4.3 billion settlement with U.S. regulators in 2023. The conversations, which began when Binance reached out to Trump associates last year, are part of a broader strategy to re-establish a presence in the U.S. market, where Binance has experienced a significant decline in market share due to regulatory challenges.
The possible investment could be made directly by the Trump family or through World Liberty Financial, a cryptocurrency initiative supported by Trump family members that was launched in September.
Steve Witkoff, a longtime Trump ally who has served as a negotiator for his administration on various matters, is reportedly engaged in these talks, although a spokesperson for the administration has denied his participation.
A pardon for Zhao could potentially alleviate regulatory challenges for Binance's U.S. operations and improve its global business strategy.
Previously, Binance U.S. saw its market share plummet from 27% to just over 1% amid increased regulatory scrutiny.
For the Trump family, this investment opportunity arises as the regulatory landscape for cryptocurrency might be evolving under the current administration, which is attempting to loosen restrictions in the sector.
These talks also raise important ethical concerns regarding potential conflicts of interest, considering Trump's dual identity as a former president and a businessman.
Unlike his predecessors, Trump has retained control over his business interests without transferring his assets to blind trusts, leading to worries about the intersection of personal financial interests and political influence.
In related news, the UAE-based investment fund MGX has announced a $2 billion investment for a minority stake in Binance, with leadership ties to the ruling family of the UAE.
MGX is also significantly involved in Stargate, a major artificial intelligence infrastructure initiative backed by the Trump administration.
This comes as Binance's founder, Changpeng Zhao, seeks a presidential pardon after spending four months in prison for breaching anti-money laundering laws.
Zhao, commonly known as CZ, continues to be Binance's largest shareholder, despite resigning as CEO following a $4.3 billion settlement with U.S. regulators in 2023. The conversations, which began when Binance reached out to Trump associates last year, are part of a broader strategy to re-establish a presence in the U.S. market, where Binance has experienced a significant decline in market share due to regulatory challenges.
The possible investment could be made directly by the Trump family or through World Liberty Financial, a cryptocurrency initiative supported by Trump family members that was launched in September.
Steve Witkoff, a longtime Trump ally who has served as a negotiator for his administration on various matters, is reportedly engaged in these talks, although a spokesperson for the administration has denied his participation.
A pardon for Zhao could potentially alleviate regulatory challenges for Binance's U.S. operations and improve its global business strategy.
Previously, Binance U.S. saw its market share plummet from 27% to just over 1% amid increased regulatory scrutiny.
For the Trump family, this investment opportunity arises as the regulatory landscape for cryptocurrency might be evolving under the current administration, which is attempting to loosen restrictions in the sector.
These talks also raise important ethical concerns regarding potential conflicts of interest, considering Trump's dual identity as a former president and a businessman.
Unlike his predecessors, Trump has retained control over his business interests without transferring his assets to blind trusts, leading to worries about the intersection of personal financial interests and political influence.
In related news, the UAE-based investment fund MGX has announced a $2 billion investment for a minority stake in Binance, with leadership ties to the ruling family of the UAE.
MGX is also significantly involved in Stargate, a major artificial intelligence infrastructure initiative backed by the Trump administration.
