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The Trump Family Enters Crypto Fray, Reportedly in Talks to Acquire Stake in Binance’s US Arm
A shocking report has emerged suggesting that the Trump family is engaged in secret negotiations with Binance’s US arm to acquire a significant stake in the cryptocurrency exchange. This development comes as a surprise to many in the crypto and tech communities, given the family’s involvement in various controversies over the years.
The proposed investment would see Donald Trump Jr., Eric Trump, or even Ivanka Trump potentially join the board of Binance.US, marking a significant shift in the company’s ownership structure. While the talks are still in their infancy, sources close to the matter suggest that the deal could be finalized as early as this quarter.
This news raises several eyebrows, particularly considering the recent legal troubles Binance has faced. In 2023, Changpeng Zhao, Binance’s founder and CEO, pleaded guilty to violating anti-money laundering regulations and paid a hefty $4.3 billion fine. As part of the settlement, he stepped down as CEO but remains the company’s main shareholder.
Zhao’s conviction has created significant challenges for Binance in securing commercial partnerships in the US or applying for crypto licenses in Europe. It appears that the Trump family may be willing to overlook these controversies and invest in the embattled cryptocurrency exchange.
The motivations behind this potential deal remain unclear, but one possibility is that the Trump family hopes to capitalize on the growing popularity of cryptocurrencies among their conservative base. Another theory suggests that Donald Trump Jr., an avid Twitter user, has become enamored with Zhao’s vision for decentralized finance and wants to join the ranks of Binance’s influential shareholders.
While the deal has not been officially confirmed by either party, industry insiders believe that the talks are legitimate and could have far-reaching implications for the crypto market. If successful, this acquisition would likely send shockwaves throughout the sector and raise questions about the Trump family’s involvement in the cryptocurrency space.
As more information becomes available, TechCrunch will continue to monitor the situation closely and provide updates as necessary.
