Binance's CZ Denies Business Ties With Trump Family

CZ Addresses Trump Connection Allegations

Changpeng 'CZ' Zhao, the founder of Binance, has publicly denied any business relationships with the family of President Donald Trump. The statement was made during an interview at the World Economic Forum in Davos, aiming to clarify connections following his presidential pardon in October 2025.

Investment Scrutiny Explained

The controversy centers on a $2 billion investment into Binance made in March 2025 by MGX, an Abu Dhabi state-owned firm. The transaction utilized USD1, a stablecoin issued by World Liberty Financial, a company linked to the Trump family. Zhao explained that MGX chose the stablecoin, as his only request was to receive the payment in crypto to avoid dealing with banks.

Market and Legal Context

Zhao emphasized that accepting payment in a particular stablecoin does not constitute an investment in its issuer, a point he felt was misconstrued. This clarification follows his four-month prison sentence for enabling money laundering, part of a $4.3 billion settlement with the Department of Justice. Though he has stepped down as CEO, he remains a major shareholder.

Conclusion

Zhao maintains a clear separation from political figures, stating he has not spoken directly with Trump. His comments aim to mitigate market uncertainty and distance Binance's operations from the political sphere, reinforcing the exchange's independent standing in the financial market.

FAQ

Q: Did Binance invest in a crypto company linked to the Trump family?
A: No, Zhao clarified that Binance only accepted a payment made with a stablecoin issued by the company; it was not a direct investment.

Q: What was the source of the $2 billion investment?
A: The investment came from MGX, a state-owned firm from Abu Dhabi, which chose the payment method.

Source: Investing.com