$BNB

The Trump Family in Talks to Acquire Shares in Binance US

The market immediately responds with a 7% increase

The family of the President of the United States, Donald Trump, is reportedly in discussions to take a stake in Binance US, the American branch of the world's largest cryptocurrency exchange. According to a report by the Wall Street Journal, these discussions involve the potential financial investment of the Trump family in Binance US, which could support the company’s efforts to resume operations in the United States.

It is unclear what form the Trump family's ownership would take if this deal is reached or whether it depends on the granting of clemency to CZ. Neither Binance nor Trump representatives have provided official comments regarding this report.

This move aligns with the increasing involvement of the Trump family in the cryptocurrency industry. Previously, Trump Media and Technology Group (TMTG), the parent company of Truth Social, was reported to be in discussions to acquire the cryptocurrency trading platform Bakkt in an all-stock deal. Additionally, the Trump family is also involved in the launch of meme cryptocurrency coins and owns shares in the cryptocurrency platform World Liberty Financial.

Recently, President Trump signed an executive order to establish a strategic cryptocurrency reserve using tokens already owned by the government. This move raises concerns about potential conflicts of interest, given the financial support of the cryptocurrency sector for his campaign and the involvement of his family in the industry.

These developments reflect the increasingly close relationship between the Trump family and the cryptocurrency industry, which could influence US government policy towards the digital asset sector in the future.