Representatives of President Trump's family were in discussions to build economic interests in the US division of Crypto Exchange Binance. Reported by the Wall Street Journal Thursday.
Changpeng Zhao, founder of Binance's billionaire, is pushing the Trump administration to give him forgiveness, the report added, citing people familiar with the issue.
In November 2023, Zhao resigned as CEO of Binance and pleaded guilty to breaking US money laundering laws as part of a $4.3 billion settlement, settling an investigation into the world's largest crypto exchange.
According to a Journal report, Binance reached out to Trump's allies who offered to sign a business deal with their families last year as part of a plan to bring the exiled company back to the US.
It is unclear how the Trump family shares will be traded, or whether it will be subject to pardon, the report said.
Trump's Binance and representatives did not immediately respond to Reuters' request for comment.
Earlier this month, Trump signed an executive order to establish strategic preparations for cryptocurrency using tokens already owned by the government.
His move to support the crypto industry, which spent millions of dollars in support of him and other Republicans in the November election, sparked conflict of interest concerns.
Trump's family has launched cryptocurrency memecoin, but the president also holds stakes in crypto platform World Liberty Financial.
