Changpeng Zhao

Binance founder Changpeng “CZ” Zhao denies any business ties with the Trump family, despite scrutiny following Donald Trump’s presidential pardon. Zhao clarified that an investment from Abu Dhabi’s MGX into Binance, settled with World Liberty Financial’s stablecoin USD1, was not a direct relationship with the Trumps. He stated MGX chose the payment method and Binance has since moved the funds out of USD1. Zhao also denied knowledge of any lobbying efforts for the pardon.

Binance CEO Richard Teng denies allegations of preferential treatment towards the Trump-backed stablecoin USD1 before Changpeng Zhao’s pardon. The controversy stems from a $2 billion investment Binance secured from Abu Dhabi’s MGX using USD1, raising concerns about influencing Zhao’s pardon following his guilty plea on money laundering charges. Teng insists Binance didn’t dictate MGX’s investment choice and that USD1 was listed elsewhere prior. Critics, including Senator Elizabeth Warren, allege corruption and question Binance’s technological assistance to World Liberty Financial, linking the pardon to boosting a Trump-related crypto venture.