According to authoritative media reports from The Wall Street Journal and BlockBeats, representatives of the Trump family have recently engaged in negotiations with Binance.US regarding a potential investment. Meanwhile, the Trump family's decentralized finance project, World Liberty Financial (WLFI), has sparked discussions due to a significant investment and a pause in regulatory litigation, while the cryptocurrency legislation promoted by the Trump team faces resistance in Congress due to conflicts of interest.
Sensitive Negotiations Between the Trump Family and Binance.US
As reported by The Wall Street Journal on May 16, the negotiations between representatives of the Trump family and Binance.US aim to participate in equity transactions of the cryptocurrency trading platform either through direct shareholding or indirect investment via WLFI. This move is seen as a key step for Binance's return to the U.S. market. Previously, Binance faced heavy penalties for violating U.S. anti-money laundering laws, and its founder, Changpeng Zhao (CZ), is set to serve four months in prison in 2024. Insiders revealed that Binance executives recently met with the U.S. Department of the Treasury to seek the removal of independent monitoring of its anti-money laundering compliance to ease operational restrictions.
On May 17, Zhao stated on social media that his lawyers have formally applied for a pardon from the Trump administration. While he denied rumors of equity transactions with the Trump family, he did not completely rule out the possibility of pardon negotiations. X platform user @off_thetarget posted on May 19, suggesting that Binance might seek regulatory leniency by injecting capital into WLFI, implying this could be a "new type of political donation channel." Although this post has not been officially confirmed, it reflects widespread speculation in the market regarding the political motivations behind the Trump family's dealings with Binance.
World Liberty Financial: Family Business and Support from Sun Yuchen
Founded by the Trump family in September 2024, WLFI has become the core of their cryptocurrency strategy. Donald Trump Jr., Eric, and Barron Trump are deeply involved, with the family controlling about 60% of the equity. According to PANews on May 18, WLFI recently purchased 94.9 WBTC using 98.4 million USDC, bringing the total holding value to $326 million, but currently facing an unrealized loss of $8.9 million. Sun Yuchen, founder of Tron, has cumulatively invested $75 million in WLFI since November 2024, becoming the largest public investor and has been appointed as a project advisor.
It is noteworthy that Sun Yuchen's involvement comes amid regulatory turmoil. In February 2025, the SEC requested the court to suspend fraud lawsuits against him and his three companies, with the reasons not disclosed. BlockBeats analyzed on May 16 that Sun Yuchen's investment may not only be a business move but could also be linked to the regulatory influence of the Trump family. X platform user @impandoratechzh cited content from the Consensus 2025 conference on May 15, stating that Trump digital asset advisor Bo Hines emphasized that "the cryptocurrency investments of presidential children are legal and compliant," attempting to quell concerns about conflicts of interest.
Cryptocurrency Legislation and Congressional Maneuvering
The Trump team is actively promoting two cryptocurrency bills: one to establish a regulatory framework for stablecoins and the other to clarify the division of responsibilities between the SEC and CFTC in regulating cryptocurrency products. According to The Wall Street Journal on May 17, the Senate is expected to vote on the stablecoin bill soon. However, the bill has faced opposition from Democrats due to the Trump family's cryptocurrency business. Critics argue that the regulatory easing pushed by Trump could benefit his family business, presenting significant conflicts of interest.
On the X platform, @impandoratechzh quoted Bo Hines at Consensus 2025, stating that Trump is expected to sign the stablecoin and market structure bill before Congress recesses in August, with details still being adjusted. Additionally, the Trump administration plans to expand the CFTC's regulatory authority over digital assets, diminishing the SEC's influence. Harry Jung, the newly appointed head of the CFTC, was appointed on May 18 to lead the cryptocurrency and DeFi sectors, further highlighting this trend.
The Dual Game of Market and Regulation
The Trump family's cryptocurrency strategy and regulatory maneuvering have triggered intense reactions in the market. The price of BNB surged by 21% following the negotiation rumors but later fell back due to Zhao's denial. Although WLFI's token sale completed $550 million in financing, doubts about its long-term value remain. BlockBeats pointed out that the Trump family's cryptocurrency projects may attract speculative funds in the short term, but the realization of their decentralized financial services is still a long way off.
On the regulatory front, Trump's pro-cryptocurrency policies inject confidence into the industry but also pose risks. Democratic opposition to the stablecoin bill could lead to legislative gridlock, while disputes over the division of responsibilities between the CFTC and SEC may further delay the formation of a regulatory framework. Deep Tide TechFlow commented on May 18 that while Trump's cryptocurrency policies bring short-term benefits to the market, the deep involvement of his family business may undermine the credibility of regulation.
This article represents the author's personal views and does not reflect the position or views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone.
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