Trump Crypto Venture Has Talked to Binance About Doing Business
Discussions between the family’s World Liberty Financial and the world’s largest digital-asset exchange are said to include possible work on new stablecoin.
Changpeng Zhao, the billionaire founder of the giant cryptocurrency exchange Binance, leaves the stage after speaking at the Bitcoin MENA conference in Abu Dhabi on Dec. 9, 2024.
Photographer: Tamir Kalifa/The New York Times/ReduxWorld Liberty Financial Inc., one of the Trump family’s crypto ventures, has discussed doing business with the world’s largest digital-asset exchange, Binance Holdings Ltd., whose founder pleaded guilty to failing to take required measures to prevent terrorists, child abusers and entities in sanctioned nations from using its services, according to four people with knowledge of the talks.
It's not clear what stage the discussions have reached or whether they’ll result in any transactions or ventures, said the people, who asked not to be named because the talks are private. Two of them said conversations have included the possibility of Binance developing a stablecoin — a dollar-backed cryptocurrency — with World Liberty, which President Donald Trump and his sons began promoting in September. The Trumps receive three-quarters of World Liberty’s net revenue, according to its founding documents.