Trump Crypto Project: Binance’s Behind-the-Scenes Role
New revelations show Binance, the world’s largest cryptocurrency exchange, quietly supported a major crypto venture linked to former President Donald Trump. According to sources familiar with the arrangement, Binance was instrumental in developing and launching USD1, a stablecoin issued by World Liberty Financial Inc., a company closely tied to the Trump family. This assistance included coding the underlying technology and promoting the token early on.
Stablecoin USD1: Binance’s Involvement
Three individuals with direct knowledge of the situation revealed that Binance wrote the foundational code for USD1. Though the partnership remained undisclosed, insiders claim Binance was a vital player in the project’s initial stages. Their contribution reportedly extended beyond technical support to include strategic promotion and integration on the Binance platform, helping USD1 gain early traction in the crypto ecosystem.
CZ and the Presidential Pardon Bid
The timing of Binance’s support for USD1 raises eyebrows given the legal circumstances of Binance founder Changpeng Zhao (CZ). After pleading guilty in 2023 to failing to uphold anti-money laundering controls, CZ was sentenced and later sought a presidential pardon. His request gained fresh attention following his company’s undisclosed assistance to a Trump-affiliated business, which critics argue could represent a conflict of interest.
Legal Troubles: CZ’s Conviction and Fallout
CZ’s legal saga has been one of the most high-profile cases in crypto history. His 2023 conviction stemmed from violations tied to inadequate compliance protocols on the Binance platform. As part of a broader settlement with U.S. regulators, CZ paid a substantial fine and stepped down from day-to-day operations. Despite this, he remains a significant shareholder and influential figure in global crypto markets.
Critics Raise Conflict of Interest Concerns
Legal experts and political analysts are now questioning the ethics of Binance’s collaboration with a Trump-linked enterprise while its founder seeks a pardon from Trump himself. Detractors argue that this arrangement blurs the lines between private enterprise and political influence. If CZ is granted clemency, the deal could set a dangerous precedent for how financial support might be used to curry political favor.
Trump Family’s Crypto Ambitions
World Liberty Financial, the firm behind USD1, is one of several ventures launched under Trump’s renewed interest in digital assets. The project aims to create a “patriotic” alternative to other stablecoins and has been promoted in conservative circles. The Trump family has publicly endorsed the initiative, and former President Trump has voiced support for broader crypto adoption.
Binance Strategy: Regulatory Navigation and Influence
Binance has long been known for operating in regulatory gray areas. The company’s discreet assistance to a politically connected crypto firm could be viewed as part of a broader strategy to maintain relevance and favor in major markets like the United States. With growing scrutiny from global regulators, aligning with influential political figures may be an attempt to regain legitimacy and reduce regulatory pressure.
Crypto, Politics, and Ethics Collide
The intersection of crypto innovation and political influence is becoming increasingly complex. Binance’s behind-the-scenes role in developing USD1 underscores how the crypto industry is navigating not only technological challenges but also ethical and political dilemmas. As regulatory oversight tightens and political alliances deepen, the future of crypto governance will likely be shaped by cases like this—where transparency, influence, and power all converge.
