Thomas Daniels
Binance, the world’s largest cryptocurrency exchange, is actively preparing for a return to the United States, leveraging its growing relationship with the Trump family to navigate regulatory hurdles and strategic business opportunities.
In March, Binance executives, including CEO Richard Teng and Chief Legal Officer Eleanor Hughes, met with officials at the U.S. Treasury Department. The objective: to request the removal or easing of a court-appointed federal monitorship that was part of a $4.3 billion settlement reached in 2023, when Binance pled guilty to facilitating illicit transactions and violating anti-money laundering laws.
Simultaneously, Binance has been exploring a partnership with World Liberty Financial (WLFI), a decentralized finance (DeFi) project backed by the Trump family. WLFI aims to launch a dollar-pegged stablecoin, USD1, and is in discussions to list the token on Binance. The Trump family controls more than 60% of WLFI, and a successful listing could yield substantial financial returns.
This alignment traces back to a private meeting in Abu Dhabi during a cryptocurrency conference in December 2024. Binance founder Changpeng Zhao, Eric Trump, and real estate investor Steve Witkoff—who co-founded WLFI—met during the event, paving the way for deeper collaboration between the two entities.
Internally, Binance is also seeking a presidential pardon for Zhao, who served a four-month sentence after pleading guilty to charges related to U.S. financial regulations. Such a pardon would remove a significant obstacle in Binance’s efforts to reestablish itself in the U.S. market.
In parallel, Trump family representatives have reportedly explored the possibility of acquiring a stake in Binance.US, the struggling U.S. affiliate of the global exchange. A financial partnership could further intertwine the Trump family’s political and business ambitions with Binance’s global crypto infrastructure.
These developments come amid a shifting regulatory climate. Under the current administration, efforts have been made to soften enforcement mechanisms, including the disbanding of a Department of Justice crypto unit—moves that may signal a more favorable environment for firms like Binance.
The situation highlights the increasing convergence between major crypto entities and political influence, raising critical questions about regulatory integrity, corporate accountability, and the future direction of the digital assets industry.
