Binance Helped Trump-Linked Crypto Firm Before Founder Changpeng Zhao Sought Pardon: Report

The world’s largest digital asset exchange by trading volume may have played a larger role in the development of World Liberty Financial’s stablecoin USD1 than previously known.

According to a Bloomberg report citing unnamed sources, Binance wrote the code for World Liberty Financial’s USD1 stablecoin smart contract.

Once coded and promoted, Binance also made stablecoin available for a $2 billion transaction, completed in USD1. According to Bloomberg, approximately 90% of all USD1 is still in Binance-controlled wallets.

USD1 launched in March 2025. Two months later, during a podcast interview, former Binance CEO Changpeng Zhao, who was convicted in 2023 of failing to maintain proper anti-money-laundering standards at Binance and has already served a short prison term, confirmed that he had applied for a presidential pardon.

The news spurred three US senators to write a letter to the White House seeking answers:

“We write to request information about reports that Changpeng ‘CZ’ Zhao, founder and majority owner of cryptocurrency exchange Binance, is seeking a pardon from President Trump.

Just weeks ago, Binance, Emirati firm MGX, and World Liberty Financial (WLF)—a cryptocurrency company financially linked to President Trump and his family—announced a $2 billion deal involving USD1, WLF’s stablecoin.

The convergence of Mr. Zhao’s pardon application and Binance’s financial entanglements with the President’s family presents urgent concerns regarding the integrity of our justice system…

Though he stepped down from his role as CEO after pleading guilty to these charges, Mr. Zhao still owns 90% of the company.”

According to a World Liberty Financial spokesperson, Bloomberg’s reporting is “factually deficient and designed to further a political agenda.” A Binance spokesperson reiterated that CZ is no longer the exchange’s CEO.

World Liberty Financial is linked with Donald Trump but apparently not controlled by him, escaping any conflict of interest with his presidential duties. Trump has reportedly placed all his assets in a trust controlled by his oldest son.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Binance Helped Trump-Linked Crypto Firm Before Founder Changpeng Zhao Sought Pardon: Report appeared first on The Daily Hodl.

661

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.