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Binance, the world\u2019s largest cryptocurrency exchange, is plotting a return to the U.S. based on newfound ties with the Trump family.<\/p>\n
According to<\/a> the Wall Street Journal, executives from Binance met with U.S. Treasury officials last month to request the removal or reduction of a federal monitorship that has overseen the exchange\u2019s compliance with anti-money-laundering laws since it pled guilty in 2023 and paid a record $4.3 billion fine. <\/p>\n Canada also fined<\/a> Binance, but the penalty was much lower at $4.3 million. <\/p>\n At the same time, Binance has been exploring a business deal with World Liberty Financial (WLFI), a DeFi venture that claims to be \u201cinspired\u201d by President Donald Trump and has plans to launch<\/a> a dollar-pegged stablecoin called USD1. Listing the token on Binance could generate billions for the Trumps, who are currently losing<\/a> millions on the WLFI venture.<\/p>\n Trump and his family control more than 60% of the WLFI project.<\/p>\n <\/p>\n The WSJ reports that Binance\u2019s budding alliance with the Trump family stems from a private gathering in Abu Dhabi last December. Binance founder Changpeng Zhao met with Eric Trump and Steve Witkoff, who helped co-found World Liberty. <\/p>\n Fast-forward to now: The quid pro quo for the Trump administration offers a chance to roll back strict oversight; for the Trumps, Binance\u2019s massive global reach \u2014 250 million users and $65 billion in daily volume\u2014 could bolster the family\u2019s crypto ambitions.<\/p>\n Crypto.news reached out to WLFI, but a spokesperson did not respond immediately with a comment.<\/p>\n The Trump administration has already made favorable moves toward the exchange, including disbanding<\/a> a Department of Justice crypto enforcement unit.<\/p>\n Internally, Binance also seeks a presidential pardon for Zhao, who served<\/a> four months in prison for violating U.S. anti-money laundering and sanctions regulations.<\/p>\n A Binance spokesperson did not respond to a request for comment. <\/p>\n Meanwhile, Trump representatives have reportedly discussed<\/a> buying a stake in Binance.US, the exchange\u2019s struggling American arm, and using Zhao\u2019s connections to deepen the partnership.<\/p>\n The situation spotlights the unusual overlap between past enforcement targets and a White House now open to alliances with crypto bigwigs. With Trump \u2014 himself a convicted felon<\/a> \u2014 already pardoning<\/a> figures like BitMEX co-founder Arthur Hayes, the new crypto era in Washington, D.C., seems poised to reward the very \u201cbad actors<\/a>\u201d the sector\u2019s leaders complain about. <\/p>\n <\/p><\/div>\n