The Trump family was in talks to buy a stake in Binance.US, according to an exclusive report from the Wall Street Journal. The discussions involved World Liberty Financial, a crypto project backed by the Trump family, and real estate mogul Steve Witkoff. Sources told WSJ that Binance reached out to Trump allies last year, hoping a deal could smooth its return to the U.S. market.
Binance Struggles for U.S. Legitimacy
Binance.US has been fighting to rebuild after facing a crackdown under the Biden administration. The exchange lost access to U.S. dollar deposits and was labeled “a cauldron of fraud” by former SEC Chair Gary Gensler. It laid off 70% of its staff and lost billions. Reaching Trump’s inner circle may have been a strategic move to regain legitimacy.
BNB Surges as Binance Secures Investment
Following the WSJ report, BNB, Binance’s native token, jumped 5%, crossing $600 for the first time in a week. Meanwhile, Binance has secured a $2 billion investment from Abu Dhabi-based MGX, strengthening its position amid ongoing regulatory uncertainty.
At the time of writing, BNB is sitting at $575.72.
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