- Binance execs met U.S. Treasury to ease $4.3B monitor deal terms, citing operational strain on U.S. business activities.
- Binance eyes listing Trump-linked USD stablecoin by World Liberty Financial; discussions suggest possible future partnership.
- Ex-CEO CZ allegedly sought a Trump pardon, agreed to share info on Justin Sun as part of anti-money laundering plea deal.
Executives from Binance met with U.S. Treasury officials last month to request the removal or reduction of a government imposed monitor overseeing the exchange’s anti-money laundering compliance, according to The Wall Street Journal.
The meeting reportedly included Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes, who raised concerns about the monitor’s scope and duration. This monitor was placed following a $4.3 billion settlement with U.S. authorities in November 2023.
This ended a lengthy federal probe into the company’s operations. The agreement had also resulted in the resignation of Binance founder Changpeng Zhao, who pleaded guilty to violating U.S. anti-money laundering laws.
Binance’s Monitoring Deal Under Review
According to the WSJ, the Binance team urged the Treasury to consider easing the monitor’s restrictions. The company believes the oversight has limited its ability to conduct U.S. operations effectively.
Teng and Hughes specifically asked officials to either shorten the term or narrow the responsibilities assigned to the independent monitor. This effort is a strategic attempt by Binance to reestablish its business presence in the United States.
The firm has been working to demonstrate compliance improvements since the enforcement action last year. However, no statements have been issued by the Treasury Department or Binance about the recent meeting.
Trump-Affiliated Stablecoin Also Under Consideration
While engaging with the Treasury, Binance was also reportedly in talks with World Liberty Financial. This company, which has ties to former President Donald Trump, is planning to launch a stablecoin backed by the U.S. dollar.
Sources told the WSJ that Binance is evaluating a possible listing of the token on its platform. This partnership could involve a broader business agreement between the two entities, though neither side has confirmed the details.
World Liberty Financial has not issued public remarks regarding these discussions. The stablecoin project appears to be in early stages. Still, it represents an avenue through which Binance may expand its offerings in the dollar-pegged crypto sector.
CZ Allegedly Seeks Presidential Pardon
Additional details from the WSJ claim that as part of his plea deal, former CEO Changpeng Zhao agreed to provide evidence about Justin Sun.
Sun, founder of Tron, is a crypto figure under separate regulatory scrutiny. The report also states Zhao attempted to secure a presidential pardon from the Trump administration, although no further context was provided.
Neither Zhao nor his legal team have commented publicly on the matter. Meanwhile, CZ posted on social media yesterday, accusing the WSJ of preparing another unfounded attack against him.
