Conflict of interest: Binance wrote code for Donald Trump’s crypto token before founder Changpeng Zhao sought pardon
Bloomberg reportedly helped to create and promote the USD1 coach for World Liberty Financial, before calling Binance’s founder Pardon, in a development that re -raised red flags about the conflict of interest in the crypto money area of US President Donald Trump.
According to the sources specified by Bloomberg, the world’s largest crypto exchange supported Trump family business with code for the Stablecoin USD1 and introduced the coin to 275 million users. This came before Zhao, known as convict Felon and Binance founder CZ, was forgiven in the 2023 money laundering case.
In the report, the Binance wallet is over $ 2 billion in USD $ 2 billion in US dollars, which will produce 80 million dollars a year with 4 percent efficiency and the Trump family will have approximately 30 million dollars, he added.
Is it a personal decision? Political agenda? Who said what …
In 2023, CZ was found guilty of not being able to continue an effective anti -money laundering program. At that time, the conviction came behind the FTX collapse led by Sam Bankman-Fried and shook the crypto industry.
Binance spokesman did not answer all queries and said that the stock market followed the “standard listing process ve and that CZ is no longer Binance CEO, so that the amnesty search decision was“ personal ”.
BB did not answer the queries and a White House spokesman refused to comment. In addition, the World Liberty Financial spokesman said that “his claims were actually missing and designed to advance a political agenda”.
Two sources said that after Zhao’s victory of Donald Trump in December 2024, he met with World Liberty Founder Steve Witkoff at a Bitcoin conference in Abu Dhabi; However, in the report, there was no direct approval from both companies.
In mid -March, Bloomberg reported that Binance and World Liberty were talking about developing a new stablecoin, and Wall Street Journal reported that Zhao was approaching Trump for an amnesty.
Code, Creation, Promotion, Transaction: What was claimed to help Binance?
Binance wrote a basic code or “smart contract ve to provide power to USD1, and a UAE company helped to be ready for use in April when it used a coin to buy a share in Binance for 2 billion dollars in Binance. Blockchain refers to data, so far, about 90 percent of the coins from this process, said that the Binance wallets remain.
Meanwhile, interest income from assets may bring “millions öneminder a year for the Trump family.
Thus, when it was combined with its promotion to its users, Binance helped to create the medallion and participated in its biggest operations, in the report, in return for Binance or Zhao.
Binance, Trump, World Liberty Financial and the upcoming ‘conflict of interest’
Zhao is concerned about the conflict of interest, as Donald Trump, who wants an amnesty and beneficiary, is the only person who can provide it.
Former White House Chief Ethics Advisor (2005-07) and Richard Painter, Professor of Law at Minnesota University, said that the scale of this conflict of interest was not seen from the American Civil War (1861-65).
“We have never found this since the civil war: a president whose personal financial interests contradict his official duties. This has not even been important,” he said.
The White House rejected any conflict of interests because Donald Trumo’s eldest son Don Jr placed his assets in a confidence controlled by Don JR, and he also signed an ethics agreement to get only “general updates, and gave no information about“ Accounting .. Performance .. or Being ”.
In particular, since the previous period in 2016, Donald Trump has made a full 180 on the crypto, which continued to promise the US to make the US Crypto Capital ”.
(With Bloomberg)
