Summary
- It was reported that Changpeng Zhao attended a Trump-family-hosted crypto event and expressed his intention to expand business in the United States.
- Zhao said Binance.US faced difficulties in bank access and market share after the SEC lawsuit, but that changes in the regulatory environment make banking partnerships and obtaining licenses “fully possible.”
- Zhao was reported to have dismissed conflict-of-interest concerns related to the USD1 stablecoin, explaining that technical support from the BNB Chain ecosystem is a common occurrence.
Changpeng Zhao, co-founder of Binance, recently attended a Trump-family-hosted crypto event held at Mar-a-Lago in Florida, signaling his intent to expand business in the United States.
According to Bloomberg on the 23rd, Zhao attended a World Liberty Financial event held at President Trump’s resort.
In an interview afterward, Zhao said, “We want to do much more business in the United States,” adding, “We want to provide better products to U.S. consumers.” He continued, “We want to make those better products much more easily accessible in the U.S. market.”
He stressed that his remarks concerned Binance.US, not global Binance. “I don’t run Binance,” Zhao said, adding that “that role is already behind me.”
He said Binance.US has struggled with bank access and market share since a 2023 lawsuit by the U.S. Securities and Exchange Commission (SEC). However, with the regulatory environment turning more favorable, he said options such as “deeper banking partnerships or obtaining licenses” are now “fully possible.”
On concerns about potential conflicts of interest tied to Binance recently promoting the Trump family’s stablecoin, USD1, and the token’s use in an investment deal worth $2 billion, Zhao dismissed direct criticism. He explained that the BNB Chain ecosystem team’s provision of technical support for USD1 was “a common occurrence when a project launches on a network.”
Regarding his attendance at the event, he said, “I attend dozens of events every year,” adding that it was simply a gathering of figures “whom other crypto conferences would have difficulty inviting.”
Meanwhile, Zhao pleaded guilty in 2023 to charges related to deficiencies in an anti-money-laundering program and stepped down as CEO. He still retains his position as the largest shareholder of Binance.US.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
