Source: Cointelegraph Original: "{title}"
On March 18, during a panel discussion at the Blockworks 2025 Digital Assets Summit held in New York, Binance CEO Richard Teng denied reports that Binance.US had engaged in trading negotiations with entities associated with former President Trump.
Teng's statement reiterated the positions expressed by Binance founder Changpeng Zhao (CZ) and Trump himself last week, both of whom had previously denied the rumor.
On March 13, The Wall Street Journal reported that the independently operated U.S. cryptocurrency exchange Binance.US was in discussions to sell equity to business entities linked to Trump, including a potential deal with the Trump family's decentralized finance (DeFi) project, World Liberty Financial.
At the summit attended by Cointelegraph, Teng stated, "I believe World Liberty Financial and CZ himself have tweeted to deny these rumors, right? So there's really nothing more to add."
Richard Teng speaking at the Blockworks Digital Assets Summit in New York. Source: Cointelegraph
Teng noted that Binance.US differs from the larger Binance entity both legally and operationally.
He said, "Binance.US and the Binance entity are completely different entities, right? They have different shareholder groups, different boards of directors, and are managed by different CEOs."
However, Teng did express praise for Trump, stating that although Binance does not operate directly in the U.S., it has benefited from Trump's "support for cryptocurrency" policies.
Teng remarked, "Last year was a milestone year because institutions finally started to get involved in this space."
"With President Trump launching a strategic cryptocurrency reserve or asset reserve plan, this will prompt governments around the world to… seriously examine this field."
Unlike former President Joe Biden, Trump has expressed a desire to make the U.S. the "world capital of cryptocurrency" and has appointed individuals supportive of the cryptocurrency industry to key regulatory positions.
Source: CZ
Potential Conflicts of Interest
The Wall Street Journal's report cited sources familiar with the matter, stating that CZ, who served four months in prison in the U.S., has been advocating for a pardon from the Trump administration.
The report stated, "It is unclear how the Trump family's equity would exist if the deal were to go through, and it is also unclear whether the deal would be contingent on a pardon."
Binance is the largest cryptocurrency exchange in the world, but Binance.US has lagged behind Coinbase in the U.S. market.
CZ denied the report via a post on the X platform on the same day the report was published. Trump also denied the report on his social media platform, Truth Social.
Trump wrote, "The globalist Wall Street Journal has no idea what they are doing or what they are talking about. They are influenced by the EU's outdated thinking, and the main purpose of the EU's establishment was to 'harm' the U.S."
Experts noted that Trump's launch of a meme coin on January 18 and his association with the cryptocurrency company World Liberty Financial broke the norm for U.S. presidents and raised concerns about potential conflicts of interest.
Related: Zhao Changpeng denies rumors of Binance.US trading, supports Trump
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