Binance has secretly supported cryptocurrency projects related to the Trump family, while CEO Changpeng Zhao has publicly sought a presidential pardon.
Bloomberg's disclosure reveals that Binance is executing a Smart Contract for USD1, a stablecoin related to Trump’s World Liberty Financial, while Zhao proposes a personal pardon, creating public discourse on an unprecedented conflict of interest in the U.S.
MAIN CONTENT
Binance develops the smart contract for the USD1 stablecoin of the Trump project.
About 90% of the total USD1 supply is held in Binance wallets, with the potential to earn tens of millions of USD each year.
Serious conflict of interest as President Trump may financially benefit from the project related to the pardon request for the CEO of Binance.
How does Binance support the USD1 project?
With deep experience in Blockchain and Smart Contracts, Binance wrote the foundational smart contract for USD1 – the stablecoin of World Liberty Financial associated with the Trump family. Bloomberg cites three sources confirming that Binance is responsible for creating the open-source code for the issuance of USD1.
Analysis from on-chain data shows that Binance not only provides technical support but also plays a significant role in the trading and issuance of USD1, creating long-term financial leverage for both parties.
How does Binance hold a large amount of USD1 in wallets?
Blockchain data analysis conducted by Bloomberg shows that Binance holds approximately 90% of the total USD1 supply, estimated to be worth over 2 billion USD. Profits from the collateralized assets of this token could yield tens of millions of USD annually.
“The president simultaneously benefiting financially from a cryptocurrency project related to Binance and the pardon request from the CEO of Binance is unprecedented in U.S. history,”
– Richard Painter, former White House ethics advisor under President George W. Bush, 2025.
Richard Painter, former White House ethics advisor, 2025
A Binance spokesperson confirmed that the listing of USD1 follows standard procedures and stated that the pardon request is personal, unrelated to the current activities of the chairman, as Zhao no longer holds the CEO position.
Is the conflict of interest between the Trump family and Binance serious?
Legal experts and Bloomberg reports indicate that President Trump could earn approximately 30 million USD annually from the reserve interest profits of USD1 – the stablecoin that Binance is supporting the development of. This raises questions about an unprecedented conflict of interest since the U.S. Civil War.
The Trump administration claims that business assets are entrusted to Trump Jr. and that Mr. Trump only receives general reports and does not participate directly, in order to avoid personal financial conflicts with the presidency.
“Never before has a president had direct financial interests while handling political issues related to a cryptocurrency partner,”
– Richard Painter, ethics expert, 2025.
Richard Painter, ethics expert, 2025
Meetings and real impacts between Binance and World Liberty
According to Bloomberg, Zhao previously met with Steve Witkoff – co-founder of World Liberty and Middle East envoy under Trump, at the Bitcoin conference in Abu Dhabi in 2024. Although those involved deny it, many analysts believe this is a strategic connection to leverage political credibility for cryptocurrency financial development.
World Liberty stated that it will transfer benefits to the children, addressing ethical issues, while Binance and World Liberty are discussing the release of a new stablecoin on the BNB Smart Chain, continuing to expand cooperation.
How are Binance and World Liberty negotiating the release of a new stablecoin?
By early 2025, information from Bloomberg confirmed that Binance and World Liberty are nearing a contract to develop a new stablecoin based on Binance's Smart Contract technology. This indicates a commitment to developing a DeFi ecosystem related to political figures.
The following summary table shows the simultaneous technical and financial connections between Binance – the USD1 project – and the Trump family.
Factors Binance World Liberty Financial Trump Family Role Develop Smart Contract for USD1, holding 90% of token supply Issue USD1 stablecoin, develop new stablecoin Financial interest holders, receiving an estimated return of 30 million USD/year Financial impact Earn profits from the USD1 in wallets, invest 2 billion USD Receive investment from MGX (UAE), support Blockchain Risks of unprecedented conflicts of interest in modern history Notable events Zhao requests a presidential pardon, no longer holds CEO position Benefits transferred to children per ethical requests Asset management through trusts, denies financial conflict
Frequently Asked Questions
What role does Binance play in the development of USD1? Binance writes the foundational Smart Contract for USD1, holding the majority of tokens to support both technical and financial aspects. What benefits does the Trump family gain from this cryptocurrency project? It is estimated they receive about 30 million USD annually from the interest on maintained assets backing the USD1 stablecoin. What is Binance's CEO Changpeng Zhao's connection to U.S. politics? Zhao sought a presidential pardon in 2025, sparking controversy over the political-financial relationship. Does World Liberty deny the allegations? The company denies the allegations as inaccurate and politically motivated. How does this affect ethics in cryptocurrency? The conflict of interest between the president and the accompanying cryptocurrency project raises serious ethical and legal concerns.
Source: https://tintucbitcoin.com/binance-bi-mat-ho-tro-du-an-trump/
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