# Report: Trump Family May Invest in Crypto Giant Binance as Founder Seeks Pardon
In a shocking revelation, sources close to the matter have confirmed that the Trump family has been exploring a possible investment in the cryptocurrency exchange giant, Binance. The news comes at a time when Binance's founder, Changpeng Zhao, is facing scrutiny for his plea guilty to violating anti-money-laundering laws in 2023. This development raises a host of conflict-of-interest questions and ethical concerns.
According to reports from the Wall Street Journal, Binance first approached the Trump family with the idea of investing in their company. Steve Witkoff, a longtime friend of the Trump family and recently appointed US special envoy to the Middle East, has been instrumental in facilitating these discussions. Witkoff's involvement in the talks comes as no surprise, given his long history with the Trump family, including his son Zach Witkoff's founding of the Trump-backed World Liberty Financial crypto company.
The potential investment deal would not only be a lucrative move for the Trump family but also create a business partnership between them and a Middle Eastern royal family. Tahnoun bin Zayed Al Nahyan, chairman of Abu Dhabi-based investment firm MGX Fund Management, is set to secure a minority stake in Binance with a $2 billion investment. Bin Zayed is a national security adviser for the United Arab Emirates and brother of UAE's current ruler, Mohammed bin Zayed Al Nahyan.
This development raises significant concerns over the entanglement of executive clemency powers with lucrative financial transactions. The fact that Zhao, who pleaded guilty to violating anti-money-laundering laws, is simultaneously seeking a presidential pardon adds another layer of complexity to this situation. In response to these allegations, Zhao disputed the Journal's reporting, claiming that he had "had no discussions of a Binance US deal with ... well, anyone."
Furthermore, the proposed investment would also raise questions about the Trump family's involvement in business dealings with sensitive American technology companies. The Republican-led House Select Committee on China raised concerns last year over G42, an investment firm co-founded by Bin Zayed, which has close ties to the Chinese government and was accused of potentially transferring sensitive American technology to China.
Binance itself has faced its fair share of troubles in recent years. Following criticism over security and privacy practices, the company was charged with money laundering and sanctions evasion in 2023. Zhao founded Binance in 2017, which quickly grew into one of the most prominent crypto exchanges on the market, alongside Sam Bankman-Fried's FTX. The failed merger between the two companies and their founders seemed to trigger the collapse of FTX.
However, Binance faced its own set of problems when it was charged with helping users evade sanctions against Russia, Iran, and Cuba. The US government alleged that Korean hacking groups, investment frauds, and drug networks all used the exchange to move money. In response, Zhao agreed to a $4 billion fine and personally pay a $50 million fine, as well as serve four months in prison.
As the situation continues to unfold, one thing is clear: the potential Trump-Binance investment deal would be a game-changer for both parties involved. The stakes are high, and it remains to be seen how this complex web of interests will play out in the coming days.