Trump-backed World Liberty seems to refute claims of Binance talks

In a post to social media platform X, Donald Trump-backed World Liberty Financial appeared to refute claims it held talks with Binance. 

"The unsubstantiated articles in the WSJ, Bloomberg, and elsewhere seem to be politically motivated and demonstrate a troubling pattern of agenda-driven journalism set on damaging the crypto industry," the DeFi project said in a post Friday. "To set the facts straight: WLF is a DeFi project with a tremendous mission to build and democratize a new financial system for the benefit of millions. It’s as simple as that."

The Wall Street Journal reported on Thursday that, according to anonymous sources, Trump's family discussed buying a stake in Binance's U.S. arm. The news outlet also said Binance founder Changpeng Zhao pushed the Trump administration for a pardon. Zhao denied the report.

Also citing anonymous sources, Bloomberg said Thursday that World Liberty Financial had held the talks about buying a stake in Binance.US.

According to The Wall Street Journal, talks with Binance began when the world's largest cryptocurrency exchange approached Trump allies to strike a deal partly aimed at reviving the company's business activities in the United States. Last month, Binance.US restored fiat deposits and withdrawals for the first time since 2023. The U.S. Securities and Exchange Commission sued the firm, alleging it violated securities laws. That led to banking partners cutting ties with the exchange.

"Sorry to disappoint. The WSJ article got the facts wrong," Zhao  posted to X on Thursday, calling the article an "attack" on the president and crypto. "No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single BSA charge. I have had no discussions of a Binance US deal with … well, anyone."

Zhao also denied Bloomberg's report. "I/Binance have no business deals with WLF or the people mentioned in their article," he posted  on X. "We also did not buy any of the WLF coins."

In addition to Trump himself promoting World Liberty Financial, his three sons, Donald Jr., Eric and Barron, have been listed as ambassadors of the project.

In its latest round of token sales, World Liberty Financial raised around $550 million since launching the public sale.