Binance token rises following report that trump family has discuped stake in the crypto exchange

Binance’s BNB Token bucked the wider crypto downturn on Thursday, Jumping 4% Following a Wall Street Journal Report that the Trump Family Has Helks to Secure a Financial Interest in the Us Arm of the World ‘ Cryptocurrency exchange.

Such a Deal Would Notable Link The Trumps to a Firm that please Guilty to Breaking Anti-Money Laundering Lawsin 2023.

According to the Journal, Binance First Approached Trump Allies Last Year, Pitching a Deal that could help the embattled exchange Regain Regain Regain Its Footing in the Same At the Same Time, ITS FOUNDER, ITS FOUNG ZHAHOR Better Known as Cz-Has Been Angling for a Presidential Pardon after serving four months in prison for Violating Anti-Money Laundering Laws.

However, in a post on xZhao denied any discusations about a deal for binance.us or seeking a pardon.

“Sory to disappoint. The WSJ Article Got the facts Wrong,” He Wrote. “I have had no discusses of a binance us deal with… well, anyone.”

Zhao said the article was part of a broader effort to attack both crypto and the current administration, claiming that “the residual forces of the ‘war on crypto’ from the last administration is stiltered at vork.

A spokesperson for binance.us said the company declared to comment.

The structure of any potential trump stake remain uncertain, but the jeurnal’s sources said one posesibility being caught is routing is routing it through World Liberty FinancialA Crypto venture backed by the first family. World Liberty Funnels 75% of Profits to Trump-Related EntitiesIt’s also unplear white the arrangement is directly tied to a potential pardon for cz.

The news comes as binance fights to rebuild credibility after its $ 4.3 billion regulatory settlement. If a deal goes through, it could mark a dramatic comeback for binance.us – just as trump moves to roll back regulations that have weighed on the crypto industry.

Steve Witkoff, A Real Estate Investor and Longtime Trump Associate Now Working as His Top Negotiator in the Middle East, Has Reportedly Been Involved In the Talks, According to the JuCORDING TALKS Sources Familiar with the Matter.

The White House did not immMIDIELY Respond to a request for comment from CNBC.

Read the full wall street journey here: Trump Family Has Held Deal Talks With Binance Following Crypto Exchange’s Guilty plea