Binance CEO Richard Teng rejected claims that the exchange boosted a Trump-backed stablecoin to secure a presidential pardon for former chief Changpeng 2 allegations center on a $2 billion investment from Abu Dhabi’s state-owned MGX , settled using USD1, a stablecoin created by World Liberty Financial, the Trump family’s crypto venture. MGX’s investment and Binance’s subsequent listing of USD1 strengthened the stablecoin’s market position, prompting lawmakers and media reports to suggest this may have influenced Zhao’s 3 to CNBC on Monday, Teng dismissed any preferential treatment, noting MGX decided independently to use USD1 for the transaction and that other exchanges had already listed the token before 4 CEO Richard Teng at Gulf Binance Event. |) October 29, 2025 Critics have long questioned World Liberty Financial’s open connections to the White House as it pursues overseas partnerships and 5 to the platform’s website, DT Marks DEFI LLC and Trump family members reportedly receive major revenue shares and hold WLFI tokens backing the company, which is said to have netted hundreds of millions to billions in profits.
However, the site clarifies that Trump, his relatives, and affiliated entities are not officers, directors, founders, or managers of World Liberty Financial. MGX’s $2 billion USD1 purchase occurred two weeks before the White House signed a major microchip access agreement with the UAE, raising additional concerns about potential 6 Dismisses Questions About Pardon and Family Business During a 60 Minutes interview on Sunday, President Trump claimed he didn’t know who Zhao is , despite having granted the 7 pressed about Zhao’s guilty plea for violating anti-money laundering laws, Trump called it a “ Biden witch hunt ” and said he was “ too busy ” to know about Binance’s $2 billion deal with his family’s 8 president insisted his sons run their crypto business independently without government involvement. @realDonaldTrump claimed he doesn’t know who @Binance founder @cz_binance is, despite granting him a presidential pardon. #Trump #Binance 0 — 9 (@cryptonews) November 3, 2025 White House press secretary Karoline Leavitt defended the pardon in October, stating that Zhao was prosecuted without any allegations of fraud or identifiable 10 has since embraced the crypto sector, proposing new legislation while reversing enforcement actions that targeted exchanges like Coinbase and 11 stepped down from Binance in 2023 after pleading guilty to enabling money laundering through inadequate anti-money laundering 12 served four months in prison before receiving 13 said Monday the industry felt “ very thankful ” for the pardon and Trump’s vision of making America the “ global crypto capital .” Binance Plans US Market Return Binance is exploring options to re-enter the US market following Zhao’s pardon , weighing whether to consolidate its separate US affiliate into global operations or allow direct American 14 exchange currently operates 15 as a structurally independent entity, capturing less than 1% of US Bitcoin volume, compared to nearly 40% globally for its international 16 experts confirm the pardon removes barriers that had sidelined Zhao since his 2023 guilty plea.
BNB, Binance’s native token, surged 8% following news of the 17 considers US market re-entry after Trump pardons founder Changpeng Zhao, exploring consolidation options for its American operations. #Binance #Trump #CZ 1 — 18 (@cryptonews) October 27, 2025 Given the growing dissatisfaction from some regulators, Representative Ro Khanna proposed legislation to ban elected officials from owning or launching cryptocurrencies, calling Zhao’s pardon “ blatant corruption. ” Zhao also appears to be getting enough of the 19 on October 30, Zhao threatened to file a defamation lawsuit against Warren over her criticism. However, Warren’s attorney later dismissed the threat , insisting her comments about his criminal conviction were factually accurate and supported by public records.
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