Binance's "Marriage" with the Trump Family: A "White House Pardon" and a High-Stakes Return to the U.S. for the Crypto Giant

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9 hours ago

I. The "Marriage" of Crypto Giants and the Trump Family: A Two-Way Pursuit for a "White House Pardon"

The collaboration between Binance and the Trump family can be described as the most dramatic political and economic game in the crypto industry. According to insiders, starting in 2024, Binance has been extending an "olive branch" through Trump's allies, attempting to secure a "passport" to re-enter the U.S. market by allowing the Trump family to invest in its U.S. subsidiary, Binance.US. The core bargaining chip of this deal is surprisingly the "freedom" of Binance founder Changpeng Zhao (CZ) — the crypto mogul who was sentenced to four months in prison for violating anti-money laundering regulations is actively pushing for a pardon from the Trump administration.

Interestingly, the Trump family may complete the acquisition through its crypto project, World Liberty Financial (WLFI). As early as February 2025, WLFI withdrew $10 million in USDC from Binance to purchase its own tokens, which the market interpreted as a "rehearsal" for the collaboration. Analysts joked, "This is akin to a crypto version of 'political donations,' only the chips have been swapped for equity and tokens." If the deal goes through, the Trump family will be deeply tied to this "problematic giant" that has previously paid a $4.3 billion fine, while Binance may leverage the former president's political and business network to shed its label as a "regulatory orphan."

II. Compliance "Get-Out-of-Jail Card": The Survival Rules Bought for $4.3 Billion
Binance's path to compliance resembles an expensive "penitential journey." In 2023, due to anti-money laundering loopholes and unlicensed operations, Binance paid a staggering $4.3 billion fine to U.S. regulators and exited the market in shame. However, this exchange has clearly learned its lesson — new CEO Richard Teng boldly declared that "compliance is competitiveness," even betting on a strategy of "compliance first, growth later" for global expansion.

Ironically, while Binance touts compliance, it simultaneously attempts to bypass judicial obstacles through the "political leverage" of the Trump family. Analysts have pointed out, "The demand to pardon CZ essentially aims to erase historical stains and make regulators 'selectively forget.'" Whether this strategy will be effective depends on whether the Trump administration is willing to open a "regulatory backdoor" for the crypto industry.

III. The "Resurrection Match" of Dollar Trading: Binance's Trust-Rebuilding Experiment
At the beginning of 2025, Binance.US announced the resumption of dollar trading services, which the market viewed as a "milestone victory" in Binance's compliance transformation. Although user deposit channels are still restricted by banks, the price of BNB surged by 10% — investors voted with real money, expressing their expectations for this "resurrection match."

However, the shadow of regulation has not yet dissipated. Although the SEC recently paused its lawsuit against Binance to reassess its strategy, the watchful eyes of financial regulators from various U.S. states make this "trust experiment" full of uncertainties. A crypto trader candidly stated, "Binance needs to prove it is not a 'wolf in sheep's clothing,' and the Trump family's investment could be the strongest 'credit endorsement.'"

IV. Regulatory "Weather Warfare": Betting on Trump's Crypto Tailwind
The core bet for Binance's return to the U.S. lies in the potential "regulatory climate reversal" that the Trump administration could bring. Unlike the Democratic Party's cautious attitude towards the crypto industry, the Trump team has repeatedly signaled support for blockchain technology and even considered including cryptocurrencies in an "economic revival plan."

In this context, Binance clearly understands the rules of the "political lobbying" game. By bringing the Trump family into its shareholder camp, the exchange can not only gain "internal channels" for policy lobbying but also potentially influence the direction of future crypto legislation. An insider in Washington revealed, "If the deal is reached, Binance will obtain an 'invisible license' — that is, tacit approval to expand in the gray area."

V. The Global "Land Grab": From Retail Frenzy to Whale Feast
Despite the allure of the U.S. market, Binance has not abandoned its global strategy of "walking on multiple legs." Its latest strategic focus has shifted to attracting institutional investors, sovereign funds, and ultra-high-net-worth clients — these "crypto whales" not only have large trading volumes but also a higher tolerance for compliance risks.

Analysts point out that Binance is building a "dual circulation" ecosystem: on one hand, stabilizing its base through localized strategies in the U.S., and on the other hand, relying on emerging markets in Asia and the Middle East to attract institutional funds. The resources of the Trump family may help it bridge the "Ren and Du meridians" between Wall Street and traditional finance.

Conclusion: A Dangerous and Shrewd Power Game
The negotiations between Binance and the Trump family are essentially a high-risk political and economic conspiracy. If successful, Binance will achieve a stunning transformation from "exiled giant" to "compliant player"; if it fails, it may find itself mired in a more complex judicial quagmire due to political connections. For the crypto market, the outcome of this game will determine the symbiotic model between the industry and regulation for the coming years — whether it moves towards openness or returns to division. The answer may lie in Trump's pardon pen and CZ's equity agreement.

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