World Liberty Financial, a DeFi project endorsed by Donald Trump, has seemingly dismissed allegations that it was engaged in discussions with leading crypto exchange, Binance. The denial was made on a popular social media platform X.
“The baseless reports in the WSJ, Bloomberg, and other media outlets are politically inclined and indicate a concerning trend of biased journalism, aimed at undermining the cryptocurrency sector,” the company stated on Friday. “To clarify the facts: World Liberty Financial is a DeFi enterprise with an ambitious goal to create and popularize a refreshed financial system for the benefit of many. It’s as straightforward as that.”
On Thursday, The Wall Street Journal reported that Trump’s family was contemplating acquiring a share in Binance’s U.S. branch, based on undisclosed sources. The publication also claimed that Binance founder, Changpeng Zhao, had sought a pardon from the Trump administration, which Zhao has denied.
Bloomberg also quoted anonymous sources on Thursday, suggesting that World Liberty Financial had conversed about investing in Binance.US.
According to Wall Street Journal, the dialogue with Binance initiated when the world’s largest crypto exchange reached out to Trump associates to negotiate a deal partially intended to resurrect the company’s operations in the United States. Binance.US reinstated fiat deposits and withdrawals for the first time since 2023 last month. The firm faced a lawsuit from the U.S. Securities and Exchange Commission for allegedly breaching securities laws, leading to its banking partners severing relationships with the exchange.
Changpeng Zhao responded to the WSJ report on Thursday on platform X, labeling the article as an “attack” on both the president and the crypto industry. Zhao denied any discussions of a Binance US deal with anyone and also refuted Bloomberg’s report, stating that he or Binance have no business transactions with World Liberty Financial or the individuals mentioned in their article.
Donald Trump, along with his three sons, Donald Jr., Eric, and Barron, have been publicized as ambassadors of World Liberty Financial. The company raised about $550 million in its latest token sales.
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