Crypto and the Family Business: Trump Allies in Talks With Binance After Guilty Plea

In March 2025, representatives of the Trump family held talks to take a financial stake in the U.S. arm of Binance, the crypto exchange that pleaded guilty in 2023 to violating federal anti-money-laundering requirements. Binance founder Changpeng Zhao, who served four months in prison related to the plea, had been pushing for a presidential pardon; Trump ultimately pardoned him on October 23, 2025.

Reports at the time indicated the Trump family stake could run through World Liberty Financial, the family's crypto venture, rather than a direct personal investment, though the exact structure was unclear. The talks emerged as Binance was separately negotiating with the Justice Department over dropping the outside compliance monitor required under its $4.3 billion settlement.

The overlapping timeline, family business talks, a pending pardon request, and looming compliance-monitor negotiations, drew criticism from senators including Elizabeth Warren, who pressed the DOJ on the administration's ties to Binance. The episode is one of several instances where Trump family crypto ventures intersected with federal regulatory and clemency decisions.