Trump’s Pardon Of Changpeng Zhao Reportedly Followed Binance’s High Level Task Force, $2 Billion Stablecoin Deal
The controversial pardon of Binance CEO Changpeng Zhao by President Donald Trump has reportedly been linked to a substantial boost in the market capitalization of the Trump family’s cryptocurrency venture.
Task Force Tied To Trump Crypto Deal
Binance formed a high-level task force following Trump’s election victory to negotiate a deal with the Trumps’ emerging cryptocurrency venture, World Liberty Financial, reported The Wall Street Journal on Wednesday. This deal was allegedly intended to secure a pardon for Zhao.
Before World Liberty launched its dollar-pegged cryptocurrency, USD1, Binance assigned a team of more than a dozen engineers to develop the technology behind it, as per the publication.
The exchange later facilitated a deal in which an Emirati state investor acquired a minority stake in Binance for $2 billion — a payment reportedly made using USD1. The move substantially increased World Liberty’s market capitalization and expanded its …
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