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U.S president Donald Trump continues to be at the center of controversy, especially related to the crypto market. Recent reports indicated that POTUS and his family were gunning for a share of Binance U.S.
The initial claim originated from the Wall Street Journal. It stated that a deal that would give the Trump family a share of Binance U.S was in the works.
However, Former Binance CEO Changpeng Zhao (CZ) released a statement just hours later, dismissing the claims as non-factual.
According to CZ, Binance U.S does not currently have such a deal in the works with President Trump or any other party.
He also noted that the reports may have been spearheaded by criticism out to attack President Trump and the crypto community.
CZ Would Not Mind a Presidential Pardon
The initial claims about the Trump-Binance U.S deal also warranted CZ’s response based on a claim about his felony status.
The reports stated that the former Binance CEO would use the deal as an opportunity to secure a presidential pardon.
CZ was previously arrested for breaking U.S anti-money laundering laws and even served a 4-month prison sentence.
There were a few other allegations raised against him including sanctions violations.
Although the former Binance CEO refuted the claims about the Trump-Binance U.S deal, he had this to say about the pardon claim.
“No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge.”
Trump Faces Backlash Over Alleged Market Manipulation
The false claims about a deal between the Trump family and Binance U.S may have had an ulterior motive.
The U.S president has recently faced a lot of criticism over his economic policies.
Some have even accused him of market manipulation for personal gain.
Critics have particularly based the crypto manipulation allegations based on Trump’s links to World Liberty Finance.
The firm has been aggressively accumulating crypto and some believe that the market disruption caused by Trump’s economic policies may have been aimed at crashing the market.
The end goal being to push prices lower for better entry points.
According to CZ, these attacks might be the remnants of the previous administration’s smear campaign tactics to invalidate Trump’s policies.
Meanwhile, POTUS and his administration are reportedly willing to embrace short term pain as the best solution for some of the major challenges.
