Recently, Bloomberg broke a huge news story - the world's largest cryptocurrency exchange, Binance, not only provided technical support to the Trump family but also helped them launch the stablecoin USD1! The operations behind this are astonishingly complex, and the intersections of politics, business, and the cryptocurrency world involved have sparked countless speculations and discussions.
1. The behind-the-scenes cooperation between Binance and the Trump family
According to sources, Binance founder Zhao Changpeng (CZ) provided strong support to a cryptocurrency company under the Trump family while seeking a pardon from President Trump. World Liberty Financial Inc. is the representative company of the Trump family in the cryptocurrency field, and Binance developed the underlying technology for the USD1 stablecoin for them.
This means that Binance not only provided technical assistance to the Trump family but also involved the coding and management of the smart contract for the USD1 stablecoin. It seems that Binance's support is not just 'paper cooperation', but real technical assistance that helps the Trump family enter the cryptocurrency world.
2. The super trading behind the USD1 stablecoin
But this cooperation has not only caused a stir in the cryptocurrency circle; there are larger, more secretive deals - an investment company in the UAE acquired shares of Binance for $2 billion, and the USD1 stablecoin is an important part of this transaction.
Moreover, on-chain data reveals a shocking fact: about 90% of the USD1 stablecoin is still stored in Binance wallets. Each year, the interest income generated from this part of the assets can bring tens of millions of dollars in revenue to the Trump family, essentially making it a significant 'cash cow'.
3. Binance's special rights - supporting the global issuance of USD1
Even more surprisingly, Binance even allows 275 million users to trade USD1, which is an extremely rare privilege in the stablecoin field. For stablecoin issuers, obtaining this opportunity for global issuance is almost a dream come true.
However, despite so many eye-catching details, there is still no clear answer regarding whether Binance received compensation from this cooperation. Currently, we can only rely on the statements of informed sources, which suggest that Binance and Zhao Changpeng may not have directly profited from this collaboration, though the official stance has not provided a clear response.
4. Zhao Changpeng's 'personal decision' and pardon application
In a statement regarding Binance, they emphasized that USD1 has successfully launched through Binance's 'standard listing process'. As for whether Zhao Changpeng benefited from this cooperation, Binance stated that Zhao's request for a pardon is a completely 'personal decision'.
In fact, Zhao Changpeng was sentenced to a short-term imprisonment in 2024 for allegedly violating anti-money laundering regulations, and Binance has already paid over $4 billion in fines. His request for a pardon has sparked speculation about his personal motivations.
5. The Trump family's response: denial of allegations
Although the cooperation between Binance and the Trump family has drawn much attention, the Trump family has not made many public responses to it. A spokesperson for World Liberty Financial Inc. denied the allegations regarding its relationship with Binance, stating that these claims are 'groundless and aimed at fostering political objectives.' This statement sounds somewhat 'biting', but considering the Trump family's political background, such avoidance is understandable.
6. The connection between Binance and the Trump family: how did it start?
Currently, there is still much curiosity about how Binance and the Trump family established their connections. According to informed sources, Zhao Changpeng and the Trump family's core circle do not have a direct history of cooperation, and the first contact between the two companies may have occurred at a Bitcoin conference in Abu Dhabi. At that time, Zhao had just been released from prison, and Trump's assistant Witkoff was also in a period of turmoil.
As for the recent news that Witkoff transferred his shares in World Liberty Financial to his son, it has made the situation even more enigmatic. A White House legal adviser claimed that Witkoff's transaction complies with ethical guidelines, but how this interweaves with the cooperation with Binance remains a mystery.
7. The 'dance' between politics and cryptocurrency
This situation gives us a profound insight: the boundaries between politics and cryptocurrency are becoming increasingly blurred. This cooperation between Binance and the Trump family brings the 'hidden rules' of the cryptocurrency industry into public view and allows us to see how commercial giants engage in collaboration and competition through capital amid great power rivalry.
In the future, as the stablecoin and cryptocurrency market continues to mature, more political forces may establish closer ties with this industry. As one of the largest exchanges in the world, Binance clearly plays an important role in this global financial system.
Conclusion
In this grand chess game, the relationship between Binance, the Trump family, and the cryptocurrency market also reveals more possibilities of political and business intertwining in the future. Regardless of whether this deal ultimately reveals more insider information, the cooperation between Binance and the Trump family undoubtedly provides us with insights into how cryptocurrency and politics can work together.
Although many details remain unresolved, it is certain that the cooperation between Binance and the Trump family will have far-reaching impacts on the future of the cryptocurrency market. If this cooperation is successful, it may accelerate the integration and development of cryptocurrencies within the global financial system, so we shall wait and see!
