Trump and Binance: Is the family negotiating the crypto business?

The cryptocurrency world is in turmoil! According to a report in the Wall Street Journal, representatives of the Trump family are interested in taking a financial stake in the US subsidiary of the crypto exchange Binance. These talks come as Binance CEO Changpeng Zhao, who was arrested on money laundering charges, is seeking a pardon from the Trump administration. Trump's influence on crypto regulation could also increase as he publicly appears as the first "crypto president" and has even launched his own cyber coins, as shown on krone.at is reported.

The background to these conversations is particularly explosive. The talks with Trump confidants are intended to enable Binance's return to the US after the company struggled with legal problems last year. Zhao had already pleaded guilty in a criminal case last year and negotiated a deal in return for a hefty fine of $4 billion. It remains unclear whether a pardon for Zhao would be a prerequisite for cooperation. Experts also note that the SEC's announcement that it is suspending its case against Binance for illegal activities points to looser regulatory measures under Trump's possible presidency, according to financial analysis businessinsider.com highlights.