Binance CEO Changpeng Zhao, known as CZ, has firmly denied recent reports suggesting that he was in discussions with the Trump family regarding a potential stake acquisition in Binance U.S. The allegations, which surfaced in a Wall Street Journal article, have been labeled as false by CZ, who criticized the media for spreading misinformation.
Key Takeaways
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CZ denies any discussions with the Trump family or related entities regarding Binance U.S.
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The Wall Street Journal reported on alleged interest from Trump’s family in acquiring a stake in Binance U.S.
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CZ accused WSJ and Bloomberg of fabricating stories and spreading false narratives.
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Binance U.S. CEO Richard Teng also reiterated the denial during a recent summit.
Background of the Controversy
The controversy began when the Wall Street Journal published a report claiming that members of Donald Trump’s family were interested in acquiring a stake in Binance U.S., a subsidiary of the world’s largest cryptocurrency exchange. The article also suggested that CZ might be seeking a presidential pardon from Trump, given his previous legal troubles.
In response, CZ took to social media to refute the claims, stating, "Sorry to disappoint. The WSJ article got the facts wrong." He emphasized that he had not engaged in any discussions regarding a deal with anyone, including the Trump family.
Media Criticism
CZ did not hold back in his criticism of the media outlets involved. He accused the Wall Street Journal of prioritizing sensationalism over factual reporting, stating that the article seemed more focused on attacking both Trump and the cryptocurrency industry rather than presenting accurate information. He also pointed out that over 20 individuals had contacted him, confirming that WSJ had inquired about a supposed pardon deal.
In a follow-up, CZ also called out Bloomberg for publishing similar claims without substantial evidence. He clarified that Binance had no business dealings with World Liberty Financial, a firm mentioned in the reports, and reiterated that the company was not involved in any discussions with Trump-affiliated entities.
Statements from Binance Leadership
Richard Teng, CEO of Binance U.S., echoed CZ’s sentiments during a panel discussion at the Blockworks’ 2025 Digital Asset Summit in New York. He stated, "I believe both World Liberty Financial as well as CZ himself have tweeted and denied the reforms, right? So that there’s really nothing else to add." Teng emphasized the operational independence of Binance U.S. from its parent company, highlighting that they have different shareholders and management.
Despite the ongoing regulatory challenges in the U.S. market, Teng expressed optimism about the future of cryptocurrency under Trump’s administration, noting that the former president’s policies could benefit the industry.
Conclusion
As the dust settles on this controversy, it appears that the rumors surrounding a potential Trump family deal with Binance U.S. are unfounded. Both CZ and Teng have made it clear that there are no ongoing discussions or plans for collaboration with Trump-affiliated entities. The focus now shifts back to Binance’s operations and its cautious approach to the U.S. market amid regulatory uncertainties.