Binance CEO Richard Teng and CZ Reject Trump Deal Allegations

In recent developments, Binance CEO Richard Teng has firmly denied reports suggesting that Binance.US engaged in discussions with entities linked to the U.S. President Donald Trump. These reports, initially published by The Wall Street Journal , alleged that Binance.US was exploring the sale of an equity stake to Trump-affiliated business entities, including World Liberty Financial, the Trump family's decentralized finance project.

During a panel at Blockworks' 2025 Digital Asset Summit in New York on March 18, Teng addressed these allegations, stating, "I believe both World Liberty Financial as well as CZ himself have tweeted and denied the reforms, right? So there's really nothing else to add." He emphasized the distinct legal and operational separation between Binance.US and its global counterpart, noting, "US and dotcom are quite different animals, right? They have different set of shareholders, they have different board of directors and different CEO running the show."

Binance founder Changpeng "CZ" Zhao also refuted the WSJ's claims. In a post on X , CZ stated, "Sorry to disappoint. The WSJ article got the facts wrong. Fact: I have had no discussions of a Binance US deal with... well, anyone." He further criticized the article, suggesting it was "motivated as an attack on the President and crypto," and highlighted that residual forces from the previous administration's "war on crypto" might still be influencing such narratives.

President Trump also addressed the WSJ report, dismissing it on his social media platform, Truth Social. He wrote, "The Globalist Wall Street Journal has no idea what they are doing or saying. They are owned by the polluted thinking of the European Union, which was formed for the primary purpose of 'screwing' the United States of America."

Despite the controversy, Teng lauded President Trump's "pro-crypto" policies, acknowledging their positive impact on Binance. He remarked, "Last year was a landmark year in that institutions are finally coming on board." Teng also highlighted the significance of the administration's initiatives, stating, "With President Trump coming out with both [a] strategic crypto reserve or asset stockpile, it will force governments around the world... to look at this space quite seriously."

The WSJ report also touched upon potential conflicts of interest, noting that CZ had previously served a four-month prison sentence in the U.S. and was reportedly seeking a pardon from the Trump administration. The article stated, "It is unclear what form the Trump family stake would take if the deal comes together or whether it would be contingent on a pardon."

Binance, recognized as the world's largest cryptocurrency exchange, has faced regulatory challenges, particularly in the U.S. Binance.US, its American affiliate, has struggled to capture significant market share, trailing behind competitors like Coinbase. The exchange's operations have been further complicated by legal actions from U.S. regulatory bodies, including the Securities and Exchange Commission (SEC).

The Trump administration's favorable stance on cryptocurrencies has been seen as a potential catalyst for a global pro-crypto shift. Teng expressed optimism about this development, suggesting that such policies could lead to increased institutional adoption and a more favorable regulatory environment worldwide.

The recent allegations of potential dealings between Binance.US and entities associated with President Trump have been met with unequivocal denials from both Binance leadership and the Trump administration. While the crypto industry continues to navigate a complex regulatory landscape, the current U.S. administration's supportive policies may pave the way for broader acceptance and integration of digital assets in the global financial system.