Changpeng \u201cCZ\u201d Zhao has denied claims that representatives of President Donald Trump\u2019s family were involved in discussions to acquire a financial stake in Binance.US.<\/p>\n
This was after the Wall Street Journal (WSJ) published a report suggesting such talks had taken place.<\/p>\n
Following the report\u2019s release, Zhao addressed the claims in a March 13 post<\/a> on X, stating, \u201cI have had no discussions of a Binance US deal with \u2026 well, anyone.\u201d<\/p>\n The former Binance CEO explained that more than 20 people had told him they had been contacted by WSJ and another media outlet, who were attempting to verify whether he had struck a deal for clemency.<\/p>\n The article alleged<\/a> that Zhao was seeking a presidential pardon from Trump, which could allow him to take on an operational or management role at Binance. According to the WSJ, Binance approached Trump\u2019s allies last year with a business proposal as part of its plan to strengthen its U.S. operations.<\/p>\n Zhao denied these claims, suggesting that the report was politically motivated and intended as \u201can attack on the President and crypto.\u201d He also asserted that \u201cresidual forces of the \u2018war on crypto\u2019 from the last administration are still at work.\u201d<\/p>\n CZ, who served time after pleading guilty to violating U.S. anti-money laundering laws, noted that he is the only individual in U.S. history to receive a prison sentence for a single Bank Secrecy Act violation. \u201cNo felon would mind a pardon,\u201d he said, adding that he remains dedicated to advancing cryptocurrency both in the U.S. and globally.<\/p>\n In November 2023, Binance settled with U.S. authorities, agreeing<\/a> to pay $4.3 billion in fines. As part of the agreement, Zhao pleaded guilty to failing to implement an effective anti-money laundering program at the exchange. The company also committed to fully exiting the United States market.<\/p>\n CZ later resigned as CEO, with reports indicating that he was permanently barred <\/a>from operating or managing Binance under the terms of the settlement. A presidential pardon would possibly change the platform\u2019s ability to conduct business in the country.<\/p>\n Since Trump took office, his administration has taken a more supportive stance on digital assets, reversing the strict regulatory approach of the previous government.<\/p>\n Under acting Chair Mark Uyeda, the U.S. Securities and Exchange Commission (SEC) has softened its enforcement efforts against crypto firms. Several high-profile cases, including those involving Binance<\/a> and Coinbase<\/a>, have been paused or dropped.<\/p>\n The post CZ Denies Trump-Binance Deal Allegations, Calls WSJ Report Misleading<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Changpeng \u201cCZ\u201d Zhao has denied claims that representatives of President Donald Trump\u2019s family were involved in discussions to acquire a financial stake in Binance.US. This was after the Wall Street Journal (WSJ) published a report suggesting such talks had taken place. Details From The Statement Following the report\u2019s release, Zhao addressed the claims in a […]<\/p>\n","protected":false},"author":0,"featured_media":52028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52027"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52027"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/52028"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Implication of CZ\u2019s Possible Return<\/h2>\n