"Binance Discusses Listing Trump Coin"... A Stepping Stone for Re-entry into the US?

Reports have emerged that Binance, the world's largest virtual asset (cryptocurrency) exchange, is cozying up to the family of President Donald Trump while requesting regulatory relaxation from the US Treasury Department.

The Wall Street Journal (WSJ) reported on the 11th (local time), citing sources, that Binance executives met with US Treasury officials last month to discuss easing US government oversight.

During this meeting, Binance executives reportedly asked Treasury officials to eliminate US government oversight related to compliance with anti-money laundering laws.

Additionally, sources reported that Binance is also in discussions to list a new dollar-pegged cryptocurrency from 'World Liberty Financial' (WLF), a virtual asset platform launched by Trump's two sons.

The WSJ analyzed that the alliance between Binance and the Trump family is increasingly developing, and this is seen as a step for Binance to re-enter the US market and for former CEO Changpeng Zhao to be pardoned by the Trump administration.

Changpeng Zhao, who founded Binance, was indicted by the US Department of Justice on charges including money laundering and was sentenced to four months in prison by a court last May, leading to his resignation as CEO.

In 2023, Binance agreed with the US government to expel all US customers, report all previous suspicious transactions, and cooperate with two independent monitoring agencies. Following regulatory actions by the US government and the indictment of Changpeng Zhao, Binance's US subsidiary saw its market share plummet from 27% to 1%.

If Changpeng Zhao is pardoned, it is expected that Binance could return to the US market and facilitate its business internationally. From WLF's perspective, leveraging Binance's market dominance presents an opportunity to become a significant player in the cryptocurrency industry, according to the WSJ.

Reporter Lee Hwigyeong ddehg@wowtv.co.kr