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Donald Trump wants to own a stake in the cryptocurrency exchange Binance
Donald Trump and his family are considering taking a stake in Binance.US, the American division of the world’s largest cryptocurrency exchange. According to Binance-following-crypto-exchanges-guilty-plea-05b029fa«>The Wall Street Journal, various options are being discussed, including the possibility of making an investment through his sons' crypto project World Liberty Financial.
This news comes as Binance attempts to return to the US market after serious problems with the law. At the end of 2023, the company pleaded guilty to violating US anti-money laundering laws and agreed to pay a $ 4.3 billion fine. Its founder Changpeng Zhao served four months in prison and resigned as CEO, but still holds a controlling stake in Binance.
According to the WSJ, Zhao is now seeking a pardon from Trump, which could greatly facilitate Binance’s operations in the United States and the European Union. In both jurisdictions, businessmen convicted of financial crimes are prohibited from obtaining licenses to operate in the market.
Binance has been actively working to return to the US since Trump won the presidential election. The exchange has created a special working group led by its current CEO Richard Teng. One of the possible options for restoring positions in the US market is a deal similar to the one made by Justin Sun, the founder of TRON. In November 2024, he invested $ 30 million in World Liberty Financial, and shortly afterwards, the US Securities and Exchange Commission froze the proceedings against him.
Against this backdrop, Binance continues to streamline its operations: the company recently blocked market makers GoPlus Security and MyShell for violating trading rules, and confiscated their revenues to compensate for losses to affected users. If Trump does indeed become a co-owner of Binance. US, this could have a significant impact on the future of the exchange in America and the global cryptocurrency industry in general.