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As altcoin weakness persists, BNB Coin recorded a remarkable daily gain of 7%, surpassing the $600 mark. This surge coincided with a report from the WSJ suggesting the potential sale of Binance US shares to Trump’s family. The claims suggest that representatives from Trump’s family have made efforts to acquire shares in Binance US.
Binance and Trump
According to insider sources, Trump’s family members are actively seeking to purchase shares of Binance US. Previously, Binance faced a $4.3 billion fine in 2023 for violating anti-money laundering regulations, resulting in the imprisonment of its founder, CZ.
Ongoing Communications
Communication between CZ, the co-founder and largest shareholder of Binance, and Trump’s family continues. Discussions about a potential pardon for CZ are part of the agenda concerning the share sale, although the exact number of shares to be acquired remains unknown. The WSJ report indicates that Trump’s family may proceed with the share purchase through their crypto venture, WLFI.
Currently residing in Abu Dhabi, CZ recently announced that the UAE’s sovereign wealth fund, MGX, purchased $2 billion worth of Binance shares. This minority stake sale pertains to Binance Global. If the UAE can make such investments, it’s entirely plausible that Trump could also venture into investing in Binance. The unfolding of these claims may lead to increased volatility in BNB Coin’s price.
