Recent reports indicate a potential financial interest of the Trump family in Binance, the world's largest cryptocurrency exchange, despite Binance's past legal troubles in the U.S.  This development has reportedly influenced the value of Binance's native token, $BNB .

#TrumpTariffs

The Wall Street Journal reported that the Trump family has engaged in discussions regarding a possible financial stake in Binance.US, the American arm of the exchange.  This comes amidst Binance's efforts to regain its footing in the U.S. market following a series of lawsuits and penalties from U.S. regulatory bodies. Binance, founded by Changpeng Zhao (CZ), has faced significant legal challenges, including a $4.3 billion penalty to the Department of Justice in November 2023 for money laundering and sanctions violations.  Zhao himself pleaded guilty and served a four-month prison sentence for his role in these violations. 

The reported discussions between the Trump family's crypto venture, World Liberty Financial (WLF), and Binance began last year. WLF, backed by Donald Trump Jr., Eric Trump, and Barron Trump, along with Steve Witkoff, has been exploring various avenues, including potentially listing a new dollar-pegged cryptocurrency from World Liberty Financial on Binance.  Interestingly, Bloomberg reported that the basic code for WLF's stablecoin, USD1, was secretly written by Binance.  This arrangement reportedly allowed an Emirati investment firm to acquire a $2 billion stake in Binance using USD1, and Binance also promoted USD1 to its extensive user base. 

The timing of these discussions coincides with Changpeng Zhao's reported pursuit of a presidential pardon. While Zhao initially denied seeking a pardon, he later confirmed applying for one.  The potential for a pardon for Zhao could be a factor in any deal between WLF and Binance. 

The news of a potential Trump family stake in Binance led to a 4% increase in Binance's BNB token on Thursday, August 1, 2025.  This surge occurred despite a broader downturn in the crypto sector, partly attributed to new tariffs imposed by U.S. President Donald Trump, which have caused global market turmoil. These tariffs, ranging from 10% to 41% on goods from over 90 countries, including Canada, Switzerland, India, and Taiwan, have significantly impacted global markets, leading to declines in major U.S. stock indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite. The tariffs are expected to increase costs for consumers and businesses and could complicate the Federal Reserve's monetary policy decisions. 

Binance executives have also reportedly met with U.S. Treasury officials to discuss loosening government oversight, specifically seeking the removal or reduction of a U.S. monitor overseeing its compliance with anti-money-laundering laws.

$BTC

  #TrumpTariffs #MarketPullback #SECProjectCrypto