Trump Family’s Crypto Ties Strengthen: Binance CEO Granted Pardon
Recently, a significant political event unfolded as former President Donald Trump granted a pardon to Changpeng Zhao, the founder of Binance, the leading cryptocurrency exchange. This decision has raised eyebrows among lawmakers and anti-corruption advocates due to the financial ties between Zhao’s company and Trump’s own crypto interests.
Trump’s Pardon of Zhao: Key Events
On October 23, 2023, Trump issued the pardon to Zhao, who had previously pleaded guilty to money laundering and served a four-month prison sentence. This development came just days before Binance announced its promotion of USD1, a cryptocurrency linked to Trump’s family venture, World Liberty Financial. A social media post declared that trading for USD1 would commence on October 29, 2023.
Connections Between Binance and the Trump Family
- Zhao’s pardon is tied to Binance’s role in promoting Trump’s World Liberty Financial cryptocurrency.
- World Liberty Financial launched its digital token, $WLFI, in September 2024, shortly after Trump’s election.
- Recent reports revealed that Binance cooperated with an Abu Dhabi investment fund to use Trump’s USD1 in a $2 billion investment aimed at increasing demand for the Trump coins.
Critics argue the pardon and resulting financial deals create opportunities for corruption. Senator Elizabeth Warren expressed concerns that linking Zhao’s pardon to Binance’s business dealings undermines regulatory efforts in the crypto sector.
Financial Impact and Ethical Concerns
Estimations show that Trump and his family might have earned around $5 billion from their crypto enterprise. The backlash against the pardon has been pronounced, including disapproval from Republican Senator Thom Tillis, who called it a troubling signal given Zhao’s criminal record.
Broader Implications for Cryptocurrency Regulation
Lawmakers speculate that the pardon could hinder bipartisan efforts to regulate cryptocurrencies effectively. Senators have noted that Binance began promoting Trump’s USD1 token just a week post-pardon, raising questions about the intentions behind both moves.
Trump’s Shift Towards Cryptocurrency
Initially skeptical of cryptocurrency, Trump has since become involved in the industry, generating substantial profits from crypto investments. His ventures have reportedly led to increased income for the Trump Organization, soaring to $864 million in the first half of 2025.
Conclusion: The Future of Crypto Ties
The intertwining of Trump’s political decisions with his family’s crypto interests exemplifies the complexities facing American regulation of the cryptocurrency landscape. Both supporters and opponents will watch closely as this saga unfolds, with significant implications for the future of crypto governance.
