No. of Recommendations: 2
<"Trump has already signed executive orders that benefit the industry and has pledged to help push through legislation that the industry favors. At the same time, he has existing interests in other crypto ventures that benefit if the value of digital assets rise.
The discussions thus far with Binance have included a Trump family stake in Binance’s US arm, according to the Wall Street Journal, which reported that former Binance CEO Changpeng Zhao is also seeking a pardon from the administration. In 2023, Zhao pleaded guilty to violating US anti-money-laundering requirements.
Bloomberg reported that the conversations included the possibility of a stablecoin from Binance and World Liberty Financial, a crypto business with ties to the Trump family and the family of Steve Witkoff, the president’s envoy to the Middle East. Stablecoins are pegged to other assets, such as the dollar.
A Trump administration official denied Witkoff's involvement to the Wall Street Journal and said he is in the process of divesting from his business ties.
Binance's Zhao, on the social media platform X, denied discussions of a business deal with World Liberty Financial or a pardon deal for himself with anyone tied to the Trump administration. He also denied that Binance has purchased World Liberty's crypto token.
In a post on X, World Liberty called the reports from the Wall Street Journal and Bloomberg "unsubstantiated," without going into further details."
Just before Trump's inauguration, his team launched an official meme coin for the 47th president (TRUMP) and one for first lady Melania Trump (MELANIA) on the solana blockchain.
Fight Fight Fight LLC and CIC Digital LLC, an affiliate of the Trump Organization, own 80% of the meme coin’s total supply, subject to a three-year unlocking schedule, according to a disclosure on the meme coin’s website.
His namesake Trump Media & Technology Group (DJT) also wants to launch a bitcoin exchange-traded fund and has said it will allocate up to $250 million of cash tied up in a venture called Truth.Fi into cryptocurrencies and other investments.
As for World Liberty, Trump and his sons are backers of that crypto project, launched in 2024, and they have promoted it on social media. The president is listed on World Liberty’s website as "chief crypto advocate" while his sons — Eric, Donald Jr., and Barron — hold the title of "Web3 ambassador."
In exchange for that promotion, a Trump family-owned limited liability corporation receives 22.5% of the project’s crypto token, along with 75% of any net revenues after World Liberty earns $30 million.">
https://finance.yahoo.com/news/how-trumps-ties-to-... 