Report claims that Binance played a fundamental role in creating the stable coin connected to Trump

Changpeng Zhao, the former CEO of Binance, has reportedly supported crypto projects that are connected to the Trump family, while privately trying to pardon the president, according to a report by Bloomberg News on July 11th.

Former Binance CEO Changpeng Zhao is said to have supported a trump-related stablecoin while he was aiming for pardon by the US President. A Bloomberg message According to July 11th, Zhaos political maneuvers could have overlapped with the deeper participation of Binance in Trump-friendly crypto companies.

Binance created code for Trump-supported stablecoin

Sources say that Binance engineers have developed the Smart Contract for USD1, a stable coin that is published by World Liberty Financial. This company has direct connections to President Donald Trump. The token played a key role in making a $ 2 billion investment of MGX from the United Arab Emirates in Binance.

Almost 90% of the total offer of USD1 are currently in Wallets controlled by Binance, as blockchain data confirm. The official documents of the token indicate that Trump's family could receive $ 30 million a year from interest income from the coin reserves.

Zhao asked for pardon in the middle of private trump connections

While he supported projects with connections to Trump, Zhao is said to have pushed for pardon behind closed doors. Sources said Bloomberg that the request for pardon was personal and was not disclosed in public documents. Binance distanced himself from the matter and explained that the listing of $ 1 followed a routine procedure and Zhao's pardoning was nothing to do with the company.

Two insiders also claimed that Zhao scored the co-founder of World Liberty, Steve Witkoff, at a crypto event in Abu Dhabi in December 2024. However, a person close to Witkoff denied that the meeting took place.

Trump's crypto projects increase his assets

Crypto projects associated with Trump have reportedly increased his assets by $ 620 million in the past few months. These efforts reflect the growing connections between digital assets and high -ranking political personalities in the run -up to the 2024 election cycle.

Zhao, who is waiting for his conviction, is now under tighter observation. His actions – both legally and politically – will continue to cause a stir on the cryptom markets and in Washington.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.