Report: Trump Family May Invest in Crypto Giant Binance as Founder Seeks Pardon [View all]
Earlier DU threads:
• A move that would put Trump in business with the firm that pleaded guilty in 2023 to violating anti-money-laundering
• "Trump family held deal talks with Binance's US arm, WSJ reports"
• Trump family is getting in on yet another sketchy crypto grift
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Source: Mother Jones
15 hours ago
Report: Trump Family May Invest in Crypto Giant Binance as Founder Seeks Pardon
If Trump becomes a Binance investor, he could also be business partners with UAE’s royal family.
Russ Choma
Reporter
The Trump family has allegedly been discussing a possible investment in the crypto exchange Binance—a deal that, especially in light of Binance’s multi-billion-dollar valuation, would raise a host of conflict-of-interest questions. The discussions were first revealed by the Wall Street Journal on Thursday, which also reported that Binance’s founder, Changpeng Zhao, is simultaneously seeking a presidential pardon after pleading guilty in 2023 to violating anti-money-laundering laws.
Zhao disputed the Journal’s reporting, posting on X Thursday that the paper “got the facts wrong” and that he’d “had no discussions of a Binance US deal with … well, anyone.”
On top of the ethical issues raised by the possible entanglement of executive clemency powers with a lucrative financial transaction, such an investment deal could also turn the Trump family into business partners with a Middle Eastern royal family.
News of the alleged Binance talks comes one day after an Abu Dhabi-based investment firm, MGX Fund Management, announced it is making a $2 billion investment in Binance, securing a minority stake in the exchange. MGX’s chairman is Tahnoun bin Zayed Al Nahyan—who is the national security adviser for the United Arab Emirates and brother of the UAE’s current ruler, Mohammed bin Zayed Al Nahyan.
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Read more: https://www.motherjones.com/politics/2025/03/trump-binance-pardon/
Alternate link: https://archive.ph/Kxizs
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