Representatives from Binance, the world’s largest cryptocurrency exchange, met with officials from the US Treasury Department and called for the removal of court-appointed monitors overseeing compliance with the Anti-Money Laundering Act.
at the same time, company It is being discussed to partner with Trump’s family-backed cryptocurrency initiatives, demonstrating the remarkable integrity between the crypto exchanges that fought and the former president’s inner circle.
The discussion confirmed by individuals familiar with the issue signaled Binance’s efforts to regain traction in the US market following a $4.3 billion settlement with federal regulators in 2023 to promote illegal financial activities.
Binance pushes to end our surveillance as Trump Family Eyes Strategic Crypto Alliance
According to people familiar with the conference, Vinance CEO Richard Teng and Chief Justice Eleanor Hughes have requested that Treasury officials either remove the monitorship or reduce its duration and scope. Current surveillance requires extensive surveillance from the Ministry of Finance and the Department of Justice.
At the same time, Binance is investigating a potential list of new dollar-imposed Stablecoin, USD1, launched by World Liberty Financial, a venture backed by former President Donald Trump’s family. The Trump crypto company aims to drive Binance’s global reach of over 250 million users and $65 billion daily trading volume to key players in the digital currency ecosystem.
The lecture marks a new alliance between Vinance and figures from the Trump world. Faced with US regulatory pressures and operational restrictions, vinance could benefit from political goodwill. Trump, who has already forgiven several crypto industry figures, may be poised to facilitate scrutiny of digital assets regulations.
In return, the Trump family is making financial profits from increasing distribution of USD1. Stablecoin publishers like Tether earned more than $13 billion in profits last year. This is mainly from the revenue from reserves. Binance’s support could drive massive adoption of USD1 and lead to similar winding.
Sources said that representatives of Trump’s family spoke with Binance about acquiring stakes in Binance Us, the exchange’s US subsidiary. Binance founder Changpeng “CZ” Zhao pleaded guilty to federal charges and served a four-month prison term, but is reportedly seeking a presidential pardon. The move could be driven by strengthening relationships with the Trump camp.
Abu Dhabi’s Crypto Diplomacy Sparks Binance-Trump Alliance
Binance and Trump’s family ties were catalyzed at a high-level crypto conference in Abu Dhabi last December, just before Trump’s second inauguration. In a private VIP room called the “Whale Only” lounge, Zhao is mixed with Eric Trump and other Trump peers.
Eric Trump used the opportunity to promote the world’s freedom and the “golden age of digital currency” under his father’s new leadership.
Since then, business debate between Binance and World Liberty Financial has been accelerating. The exchange also reportedly tweaks internal money anti-laundering controls, but some insiders argue that these efforts could undermine checks for high-risk users.
Binance’s interest in political alliances goes beyond potential partnerships. The company reportedly established an internal task force to prepare for the US re-entry under the second Trump administration and pursue Zhao’s pardon. Binance’s past deals with people like Justin Sun, the founder of the Tron blockchain and a leading investor in world freedom, have also raised eyebrows. More than half of illegal crypto activity last year reportedly occurred in Tron.
Faced with SEC scrutiny, Sun invested $75 million in World Liberty tokens earlier this year. Following the investment, the regulatory oversight body asked federal court to suspend fraud cases against him. As part of his plea agreement, Zhao has agreed to provide information to prosecutors about Sun’s activities, sources revealed.
The Department of Justice will end crypto monitoring
The Justice Department recently announced the dissolution of cryptocurrency units and halting corporate surveillance. This reflects a change in regulatory winds.
The “prosecutor’s termination restrictions” announcement suggests a broader rollback in code enforcement under the Trump administration.
A spokesman for the Treasury confirmed that the meeting with Binance was one of many people held alongside industry stakeholders. A Binance spokesman described the monitorship as “inefficient and costly burdens,” reaffirmed the exchange’s commitment to “supporting the government to balance innovation and user protection.”
A spokesman for World Liberty pointed out that USD1 aims to be “accessible to millions of people around the world,” and claims that Binance remains an essential player in Crypto’s global market.
The White House declined to comment on whether Zhao or other individuals are considering pardoning for the president.
