![]()
Binance CEO Richard Teng dismissed reports suggesting that Binance.US was in talks with entities linked to former US President Donald Trump during a panel on March 18 at the Blockworks’ 2025 Digital Asset Summit in New York. His comments echoed those of Binance’s founder, Changpeng "CZ" Zhao, and Trump, both of whom had already refuted the story the previous week.
On March 13, The Wall Street Journal reported that Binance.US, an independent cryptocurrency exchange in the US, was considering selling an equity stake to Trump-affiliated businesses, including a potential deal with World Liberty Financial, the Trump family's decentralized finance (DeFi) venture.
Teng commented, "There is nothing more to add, as both CZ and World Liberty Financial have tweeted and denied the claims."
He also emphasized that Binance.US operates separately from the main Binance entity. “The US and dotcom are quite different. They have different shareholders, a different board, and a separate CEO,” he explained.
However, Teng did acknowledge Trump’s positive influence on the crypto industry, noting that Binance has benefited from Trump’s “pro-crypto” policies, even though it does not directly operate in the US. “Last year marked a milestone with institutions finally coming on board,” Teng said. “With President Trump pushing for a strategic crypto reserve, it will encourage governments worldwide to take the space more seriously.”
Trump, differing from his predecessor Joe Biden, has expressed a desire to make America the “world’s crypto capital” and appointed industry-friendly leaders to key regulatory roles.
The Wall Street Journal’s report also mentioned that CZ, who previously spent four months in prison in the US, has been advocating for a pardon from the Trump administration. It remains unclear whether any potential deal with the Trump family would be linked to such a pardon.
Despite being the world’s largest crypto exchange, Binance is still behind Coinbase in the US market. Both CZ and Trump denied the report, with CZ posting on X and Trump addressing the matter on Truth Social, his social media platform. Trump criticized the report, accusing The Wall Street Journal of being biased.
Trump's January 18 launch of a memecoin and his connections with World Liberty Financial have raised concerns among experts about potential conflicts of interest and how these actions may disrupt traditional norms for US presidents.