Binance, the largest exchange of digital networks in the world, played an essential role in the development of the stablecoin of the USD1 launched by the Trump World Liberty Financial Inc.
The main dishes to remember:
- Binance has developed the intelligent contract code for Trump stable supported by Trump.
- More than 90% of USD 1 tokens remain in Binance portfolios, generating significant income for the Trump family.
- The pardon offer of the founder of Binance Changpeng Zhao raises concerns.
Binance wrote the Smart Contract Code governing USD1, allowing the creation and use of the room in a transaction of $ 2 billion this spring, from the sources to the case in Bloomberg.
The assistance occurred despite the guilt plea of the founder of Binance Changpeng Zhao for having omitted to maintain an effective anti-money money laundering program and its subsequent public request for forgiveness.
USD1 Stablecoin Powers $ 2 billion in water investment in Binance Player
The Stablecoin USD1, set for the US dollar and supported by species, cash flow bills and buyout agreements, was essential in a large -scale agreement when the MGX -based investment company used it to buy participation in Binance.
Blockchain data reveals that more than 90% of USD1 tokens, more than $ 2 billion, remain in Binance portfolios, generating significant income that potentially worth tens of millions per year for the Trump family.
The role of Binance went beyond the development of the code. The exchange actively promoted USD1 to its 275 million users, a precious advantage in the competitive market of Stablescoin.
However, neither Binance nor World Liberty confirmed if payments had been exchanged for the support of Binance.
A spokesperson for Binance refused to comment on coding or investment agreement, but said that the USD1 had followed the standard Binance registration process.
The spokesman also noted that Zhao is no longer CEO and described his request for forgiveness as a personal affair.
The link between Zhao, who is looking for forgiveness, and former President Donald Trump, who could grant him, has aroused criticism.
4. Sorry to disappoint. The WSJ article was wrong.
More than 20 people told me that they had been interviewed by the WSJ (and another media), "Can you confirm that CZ has made an agreement for forgiveness?"
They probably asked hundreds of people that 20 people contact me. In… https://t.co/elydpmkd3g
– CZ
BNB (@cz_binance) March 13, 2025
BNB (@cz_binance) Legal experts highlight the unprecedented nature of the personal financial interests of an exercise president who meet with official functions.
Cryptographic companies supported by Trump quickly added hundreds of millions to their fortune, while the application of the regulations against cryptographic companies was held during its administration.
Eric Trump attributed the interest of his family cryptography to banking restrictions and the call for decentralization.
Binance-world Liberty Tie was traced at the CZ meeting with Trump named
The collaboration between Binance and World Liberty started after Zhao met Steve Witkoff, one appointed by Trump and co-founder of World Liberty, shortly after Trump’s electoral victory.
Despite the public refusals of this meeting, the relationship increased, leading to the involvement of Binance in the launch of the stable and the important transactions.
USD1 aims to offer a stable digital dollar for faster and cheaper cross -border payments.
Although stablecoins can be lucrative, which earns billions of annual profits for issuers, concerns remain concerning the regulatory examination and potential improper use.
The stablecoin supported by Trump, however, has no known link with illegal activity and is managed with reserves supervised by Vaneck and State Street.
Meanwhile, Donald Trump continues to capitalize on the momentum of the cryptography market.
According to financial disclosure published last Friday, the former president drew $ 58 million from crypto ventures in 2024, mainly thanks to sales of WLFI tokens.
This total only dragged its hotel income and should climb more in 2025 with a sale of token and planned gains of $ 390 million, launched in January.
The post-binance binance developed code for Trump stable supported by Trump before CZ’s forgiveness offer first on Cryptonews.
