Trump-Affiliated WLFI Rumored to be Exploring Partnership with Binance

• WLFI-Binance Partnership Discussions
• CZ denies Trump's direct involvement
• Ethical and regulatory speculation persists

Rumors of a potential collaboration between WLFI, a DeFi project linked to the Trump family, and Binance persist despite denials from Changpeng Zhao, known as CZ, the former CEO of Binance. Recent reports from Bloomberg suggest that discussions have been held about launching a US dollar-backed stablecoin, albeit without Trump’s direct involvement.

As previously reported by The Wall Street Journal, the Trump family has reportedly considered acquiring a stake in Binance.US. These allegations were accompanied by rumors of CZ seeking a presidential pardon, something he has promptly denied. “I have not had discussions with anyone about a deal with Binance,” CZ said, describing the allegations as “politically motivated.”

Bloomberg reinforced this narrative, citing four anonymous sources who claim that WLFI did indeed explore the collaboration with Binance. On WLFI’s website, it is mentioned that Eric Trump serves as one of the board’s managers and that members of the Trump family hold WLFI tokens. Still, the former president himself is not officially tied to the project’s operations.

The potential partnership raises significant ethical and regulatory questions, as any influence Trump has over financial regulators could directly benefit Binance. Trump’s involvement in the TRUMP meme coin has previously been questioned by the crypto community, which is now faced with fresh speculation about direct financial ties to Binance.

CZ continued to dismiss the allegations, calling Bloomberg’s report a “baseless attack piece,” and emphasized that Binance has no business ties with WLFI nor has it acquired WLFI tokens. He stated, “Binance has never purchased any WLFI tokens.”

Additionally, WLFI co-founder and Trump ally Steve Witkoff was spotted at the Bitcoin MENA 2024 event, which CZ also attended. While there is no confirmation of a meeting between them, their simultaneous presence adds another layer of complexity to the situation.

The political and financial implications of these rumors remain unclear. Even without confirmation of Trump’s direct involvement, the overlap between Trump-affiliated entities and Binance remains a sensitive topic and prone to intense debate over Binance’s regulatory future and the former president’s relationship with the cryptocurrency market.