Binance CEO Richard Teng Denies Deal Talks With Donald Trump

Binance CEO Richard Teng has publicly denied reports that the cryptocurrency exchange was negotiating a deal with former President Donald Trump’s family. These allegations, first reported by The Wall Street Journal, suggested that Binance’s founder, Changpeng Zhao (CZ), was in talks with the Trump family to acquire a stake in Binance.US, possibly as part of a plan to re-launch its operations. Teng, speaking at a panel at Blockworks’ 2025 Digital Asset Summit in New York on March 18, reiterated that there was no truth to these claims, clarifying that no deal is currently in the works.

Richard Teng Rejects Deal Rumours with Trump’s Family

The reports, which emerged from a Wall Street Journal article, initially suggested that Binance’s global head, Changpeng Zhao, was negotiating with the Trump family, possibly to acquire a stake in Binance.US, the company’s U.S. subsidiary. This would have been part of an effort to restart operations in the U.S., following the challenges Binance faced with regulatory scrutiny. However, Zhao quickly denied the accusations, calling the media’s reports harmful to the image of the Trump family.

Now, Richard Teng has reaffirmed Zhao’s denial. He stated unequivocally at the event, “I believe both World Liberty Financial as well as CZ himself have tweeted and denied the reforms, right? So there’s really nothing else to add.” Teng’s remarks add further weight to Binance’s position on the matter, emphasizing that the company has no such arrangements in place with Trump’s family.

Teng also took a moment to address the structure of Binance.US. He explained that Binance.US operates as a completely separate entity from Binance.com, with different shareholders, directors, and CEOs running the operations. “US and dotcom are quite different animals, right? They have different set of shareholders, they have different boards of directors and different CEOs running the show,” he noted. This statement clarified any potential confusion about Binance’s internal structure and its relationship with the U.S. market.

Praise for President Trump’s Pro-Crypto Initiatives

While rejecting the claims of a deal with Trump, Richard Teng did not shy away from expressing admiration for the former President’s stance on cryptocurrency. According to Teng, Trump’s pro-crypto policies could be a significant step forward for the global cryptocurrency community, even if Binance itself is not currently operational in the United States.

Teng pointed out the importance of Trump’s initiatives in bringing institutional support to the crypto space, saying, “Last year was a landmark year in that institutions are finally coming on board. With President Trump coming out with both [a] strategic crypto reserve or asset stockpile, it will force governments around the world […] to look at this space quite seriously.” This suggests that despite Binance’s challenges in the U.S. market, the CEO sees Trump’s actions as pivotal for the future of digital assets.

Teng’s comments also highlighted the shifting landscape of institutional investment in cryptocurrency, which has gradually gained momentum in recent years. His acknowledgment of Trump’s crypto reserve initiative indicates that the crypto industry sees opportunities for increased legitimacy and adoption in the global financial system, especially if influential figures like Trump continue to back it.

Binance’s Position in the U.S. Market

Binance, the world’s largest cryptocurrency exchange by trading volume, has long struggled to establish a stable foothold in the U.S. market, where it trails behind Coinbase in terms of market share. Binance.US, which was launched to comply with U.S. regulations, has faced its own challenges, including regulatory pressure from the Securities and Exchange Commission (SEC). However, Binance remains committed to its presence in the U.S. through its subsidiary, despite these hurdles.

Teng emphasized the independence of Binance.US, reiterating that the U.S. branch operates separately from Binance’s global arm. While this separation has been important for regulatory reasons, it also means that Binance’s operations in the U.S. do not directly influence or intersect with the decisions of its global leadership team.

For Binance, maintaining compliance with local regulations while expanding its influence globally is key to its long-term strategy. The company’s leadership continues to focus on strengthening its position in markets outside the U.S., where crypto regulations are still developing.

Trump’s Investment in Cryptocurrency

While the speculation about a possible deal with the Trump family has been debunked, the former president’s involvement in cryptocurrency remains significant. Through his DeFi initiative, World Liberty Financial, Trump has reportedly invested $350 million in various crypto projects. This sizable investment reflects his ongoing interest in the space and aligns with Teng’s comments on the positive impact of Trump’s policies on the global crypto landscape.

World Liberty Financial, a venture focused on decentralized finance, has become a notable player in the cryptocurrency space, with Trump’s backing drawing attention to the legitimacy of the sector. As other political figures continue to show interest in digital assets, it’s likely that more investment from traditional financial and political institutions will pour into the crypto industry.

Binance and its leadership continue to focus on building bridges with key institutions and governments, navigating the often-turbulent waters of crypto regulation and public perception. While the speculation about a partnership with Trump’s family has been put to rest, the crypto space remains filled with uncertainty and opportunity as it evolves.