WASHINGTON – Five days after President donald Trump pardoned the founder of Binance, the world’s largest crypto exchange, the company helped boost Trump’s fortunes by promoting his family’s own crypto product, a digital coin known as USD1.

“Deposits for $USD1 are now open on @BinanceUS!” the firm’s U.S. subsidiary said in an Oct. 28 post on X, in reference to the Trump-affiliated World Liberty Financial cryptocurrency.

Binance also posted promotions saying it would now except Trump’s separate World Liberty Financial token on its U.S.-based site. Both USD1 and $WLFI were already available on Binance’s international platform, which is not available in the United States. Making both tokens more easily accessible for American investors is highly likely to increase their value by enlarging the pool of potential buyers.

more: Trump’s latest unusual pardon is a crypto CEO. Here are 8 more.

Trump and his three sons launched World Liberty Financial with trump’s diplomatic envoy Steve Witkoff and his sons Zach and Alex in September 2024, and the firm soared in visibility and profit once Trump was elected in November 2024 and began deregulating the crypto industry.

A stablecoin like USD1 is a cryptocurrency whose value is pegged to another asset, in this case the U.S. dollar.Trump’s $WLFI token has no inherent value on its own, and its worth is based on whatever his supporters and investors spend on it.Binance’s Oct. 28 proclamation noted that trading would begin Oct 29,giving USD1 its official seal of approval as “a U.S. dollar-pegged stablecoin … fully backed by regulated reserves including U.S. Treasuries.”

Binance’s founder, Chinese-born Canadian tech tycoon Changpeng “CZ” Zhao, Zhao pleaded guilty to money-laundering in 2023 and served four months in federal prison before being pardoned by Trump on Oct. 23.

Binance does more then host and promote World Liberty Financial: As Zhao was seeking a pardon earlier this year, Binance asked an Abu Dhabi government-backed investment fund, MGX, to use Trump’s USD1 coin when investing $2 billion in Binance, the Wall Street Journal reported.

Trump Family Earns $5B from World Liberty Crypto Venture

President Donald Trump and his family have reportedly earned approximately $5 billion from world Liberty Financial’s $WLFI token,raising ethical concerns. The venture has drawn scrutiny as questions arise regarding potential conflicts of interest and the influence of cryptocurrency investments on political figures.

The significant earnings, detailed in a recent report, highlight the growing intersection between politics and the volatile world of cryptocurrency. While legal experts are examining the specifics of the investment and any potential violations, the news has sparked debate about transparency and accountability for public officials involved in private financial dealings.

Trump Family’s Crypto Investments and Binance Listing Spark Scrutiny

Binance said both of the Trump coins, USD1 and $WLFI, are already listed on more than 20 other major crypto exchanges, which are used to buy, sell, store and use cryptocurrencies. “To be clear, this was a business decision on the part of @BinanceUS and nothing more,” the company said. “it’s unfortunate that even routine business decisions are now unfairly politicized by our elected officials.”

The White House also denied any quid pro quo.

In an Oct.30 statement to USA TODAY, Leavitt said: “The media’s continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public’s distrust in what they read. Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.”

Trump initially ‘not a fan’ of cryptocurrency

When a reporter pressed Trump for answers about why he pardoned Zhao and whether it had to do with his family’s crypto investments at the oct. 23 White House event, he shot back, “You don’t know much about crypto. You know nothing about nothing.”

Trump, for his part, has become a cryptocurrency enthusiast as saying in July 2019 that he was “not a fan of Bitcoin” and that crypto was used to facilitate crime and was “not money.”

Donald Trump Jr. (R), Eric Trump (L), and Zach Witkoff (C), Co-Founder and CEO of World Liberty Financial, react outside the Nasdaq exchange building after ringing the opening trading bell, in New York City, Aug. 13, 2025.

Since then, he and his family have made as much as $5 billion in paper gains from their various cryptocurrency holdings, including .

Trump signs Genius Act, first major U.S. crypto law, into effect

The top bidder for a seat at a recent dinner and a separate VIP meet-and-greet was Justin Sun, a Hong Kong crypto entrepreneur who pumped $75 million into world liberty Financial soon after its launch. Sun, who reportedly had avoided setting foot on U.S. soil for fear of being arrested, had been facing civil fraud charges under the Biden governance. But Trump’s Securities and Exchange Commission stayed the case against him in February.

Another so-called “crypto bro” that Trump pardoned was Ross Ulbricht, who was sentenced in 2015 to life in prison for founding and operating what the…

Trump Drops Lawsuit Against Coinbase After $1 Million Donation

Donald Trump recently dropped a lawsuit against Coinbase, the largest U.S.cryptocurrency exchange, shortly after the company donated $1 million to his inauguration. This sequence of events has raised questions about potential influence and the intersection of politics and cryptocurrency.

Understanding the Lawsuit

The original lawsuit,filed by Trump against Coinbase,centered around concerns regarding cryptocurrency’s potential for illicit activities and its impact on national security. Trump had publicly criticized Coinbase and other crypto exchanges, alleging they facilitated illegal transactions and posed a threat to the U.S. dollar. The specifics of the lawsuit weren’t widely publicized, but it signaled a potentially aggressive regulatory stance towards the crypto industry under a second Trump administration.

Key Terms:

• Cryptocurrency Exchange: A digital marketplace where users can buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum.
• Stablecoin: A cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the U.S. dollar.Trump has expressed interest in creating his own USD1 stablecoin.
• Inauguration: The formal ceremony marking the beginning of a president’s term in office.

The $1 Million Donation

Prior to the lawsuit’s dismissal, Coinbase made a $1 million contribution to Trump’s inauguration fund. This donation occurred amidst a broader lobbying effort by the cryptocurrency industry to influence policy decisions in Washington D.C. The timing of the donation, so close to the lawsuit being dropped, has fueled speculation about a quid pro quo – an exchange of favors.

Why This Matters: The Intersection of Politics and Crypto

This situation highlights the growing influence of the cryptocurrency industry in the political arena. As crypto becomes more mainstream, companies are increasingly investing in lobbying and political donations to shape regulations in their favor. The trump-Coinbase case demonstrates how these investments could potentially impact legal proceedings and policy decisions.

The implications are significant. Favorable regulations could accelerate the adoption of cryptocurrencies,while stricter rules could stifle innovation.The public needs to be aware of these dynamics to ensure transparency and accountability in the relationship between the crypto industry and policymakers.

Potential Conflicts of Interest

The sequence of events raises legitimate concerns about potential conflicts of interest. While it’s difficult to prove a direct causal link between the donation and the lawsuit’s dismissal, the timing is undeniably suspicious. Critics argue that the donation creates the appearance of impropriety and undermines public trust in the legal system.

Looking Ahead

This incident is highly likely to intensify scrutiny of the cryptocurrency industry’s political activities. Expect increased calls for stricter regulations regarding lobbying and campaign finance, particularly as it relates to emerging technologies like crypto. The case also underscores the importance of transparency in political donations and the need for safeguards to prevent undue influence.

Key Takeaways:

• Donald Trump dropped a lawsuit against Coinbase after the company donated $1 million to his inauguration.
• The timing of the donation raises questions about potential conflicts of interest and undue influence.
• The cryptocurrency industry is increasingly involved in political lobbying and donations.
• This case highlights the need for transparency and accountability in the relationship between the crypto industry and policymakers.

Publication date: 2025/10/31 22:46:30