Trump and Binance: The Deal That Could Change Everything (or Nothing at All!)

by

In a plot twist that could only be rivaled by a particularly convoluted episode of a soap opera, CZ, the enigmatic figurehead of Binance, has partially refuted an explosive WSJ article. Meanwhile, Bloomberg, in a fit of journalistic enthusiasm, decided to corroborate a few claims, because why not? It turns out that World Liberty Financial (WLFI), a project that is as closely affiliated with the Trump family as a cat is with a laser pointer, was considering doing business with Binance.

However, in a shocking turn of events that surprised absolutely no one, this latter report failed to mention CZ’s alleged attempts to secure a pardon from Trump. Apparently, WLFI was in talks with Binance to launch a new USD-backed stablecoin, because who doesn’t want more stablecoins in their life? 🙄

Is Trump Planning to Invest in Binance?

Earlier today, a WSJ report claimed that the Trump family was in talks to buy a significant stake in Binance.US. One of the key rumors swirling around like a particularly persistent fly was that Changpeng “CZ” Zhao was angling for a pardon as part of the deal. CZ, in a moment of social media bravado, refuted these allegations, but his denial was as focused on his own personal actions as a cat is on a laser pointer.

“I have had no discussions of a Binance US deal with … well, anyone. No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single [Bank Secrecy Act] charge. Feels like the article is motivated as an attack on the President and crypto. I am always happy to make crypto great everywhere,” CZ said, presumably while sipping a piña colada on a beach somewhere. 🍹

However, Bloomberg is insisting that serious negotiations between Binance and the Trump family did indeed take place. After CZ’s denial, the publication cited four anonymous sources who claim to have knowledge of these talks, which is about as reliable as a fortune cookie. Apparently, the key link in this possible collaboration would be World Liberty Financial (WLFI), a Trump-affiliated token project that sounds like it was named during a particularly uninspired brainstorming session.

Although the President does not directly control any aspect of WLFI, its site claims that his son Eric “serves as one of the managers on the board of managers.” Furthermore, “certain family members of Donald J. Trump” hold WLFI tokens and potentially receive a significant portion of its revenue, which is just delightful, isn’t it? 💰

In these purported talks, this Trump-affiliated venture considered developing a new dollar-backed stablecoin with Binance. WLFI also allegedly considered buying a significant stake in Binance.US, but the report does not allege that either President Trump or CZ were personally involved in these discussions. Because, you know, why would they be?

President Trump has already faced severe criticism about a potential conflict of interest with his TRUMP token, and a Binance partnership could prove even dicier. The President’s directives to federal regulators substantially impact the firm’s operations. In other words, this situation could be much more explosive than a toddler with a box of fireworks. 🎆

However, Bloomberg’s article doesn’t jump to drastic conclusions. For one thing, its sources did not in any way corroborate the WSJ’s claim that CZ wants a pardon. Since Trump pardoned Ross Ulbricht, other crypto criminals like Sam Bankman-Fried have also lobbied the President. However, it’s not illegal to want one. CZ said “no felon would mind a pardon,” not that he asked, which is a subtle but important distinction.

Additionally, WLFI has already conducted major crypto partnerships since Trump took office, and these aren’t its first outside investments. Even if WLFI representatives are planning to link up with Binance, that doesn’t necessarily mean that the exchange will have a close line to Donald Trump. It could be a normal business operation, but it still raises concerns, like a suspiciously quiet dog in a room full of breakable objects. 🐶

Ultimately, this situation is very gray, much like the area between a cat’s love and disdain for its owner. Bloomberg‘s sources also claimed that Steve Witkoff, a co-founder of WLFI and one of Trump’s key diplomatic envoys, met CZ at a conference in December. Nobody except the publication’s anonymous sources has yet revealed a direct link between Binance and Donald Trump. Nobody has directly refuted one, either, which is about as satisfying as a half-eaten sandwich.

Case in point, CZ responded a second time, also disparaging Bloomberg’s coverage. He called this article a “baseless hit piece” and “purely imaginary,” which is a delightful way to describe something that might actually be happening. He also referred to a 2022 defamation suit he filed against the publication, because why not add a little legal drama to the mix? However, other than these ad hominem attacks, he only made one direct and substantive claim:

“Fact: I/Binance have no business deals with WLFI or the people mentioned in their article. We also did not buy any of the WLFI coins,” he said, as if that would settle the matter once and for all.

Bloomberg never suggested that such a deal took place or that Binance ever purchased any WLFI tokens. It only stated that the matter was discussed, which is a bit like saying that two people discussed the weather without implying they planned to build a snowman. Additionally, Witkoff and CZ were both speakers on the same day at the Bitcoin MENA 2024 conference. Public documents show that a meeting could have happened, which is about as definitive as saying that a unicorn might exist somewhere in the multiverse. In effect, CZ didn’t refute anything substantial, which is just the cherry on top of this bizarre sundae. 🍒

Read More

2025-03-13 22:01