In a recent address at the Blockworks’ 2025 Digital Asset Summit in New York, Binance CEO Richard Teng firmly denied the rumors suggesting that Binance.US was in talks with business entities affiliated with former President Donald Trump. This statement echoes the denials made by both Binance’s founder, Changpeng “CZ” Zhao, and Trump himself.
Amidst growing speculation, The Wall Street Journal had reported on March 13 that Binance.US might be negotiating a deal to sell equity interests to Trump-affiliated businesses, specifically targeting World Liberty Financial, which is linked to the Trump family and focuses on decentralized finance (DeFi) projects. Teng addressed these rumors directly, stating, “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.” This clear stance aims to quell any misunderstandings regarding Binance’s operations.
Importantly, Teng highlighted the distinct legal and operational boundaries separating Binance.US from its parent company. “US and dotcom are quite different animals, right? They have different sets of shareholders, different boards of directors and a different CEO running the show,” he explained. Despite this separation, Teng acknowledged the benefits that Trump’s administration has brought to the crypto industry. According to him, Binance has gained from the former president’s pro-crypto policies, even though the company does not directly operate within the U.S. market.
“Last year was a landmark year in that institutions are finally coming on board,” Teng remarked, underscoring the growing acceptance of cryptocurrency in mainstream finance. He noted Trump’s vision for making the U.S. the “world’s crypto capital,” contrasting it with the previous administration’s approach to regulatory issues. As Teng put it, the current political climate, shaped by Trump’s initiatives like a proposed strategic crypto reserve, pressures governments worldwide to take cryptocurrencies seriously.
Examining Potential Conflicts of Interest
Speculation surrounding potential conflicts of interest arose from reports indicating that CZ has been lobbying for a presidential pardon related to his past incarceration in the U.S. Furthermore, questions linger about the nature of any prospective deal with the Trump family. Will it have a contingent relationship with a pardon, or will it exist independently? While these details remain murky, they contribute to a broader conversation about the ties between crypto enterprises and political figures.
Although Binance stands as the largest cryptocurrency exchange globally, its U.S. counterpart, Binance.US, trails behind rivals like Coinbase in market share. CZ and Trump both have denied allegations of any formal negotiations, with Trump’s vociferous rebuttal on Truth Social labeling the Wall Street Journal as “globalist” and misinformed about the realities of the crypto landscape. In light of the controversies surrounding Trump’s memecoin launch and his connections to World Liberty Financial, experts are increasingly concerned about the intersections of political power and cryptocurrency.
The evolving political landscape continues to shape the future of cryptocurrency regulation in the U.S., as industry stakeholders watch closely how these dynamics impact market viability, investor trust, and the overall growth of digital assets.
