Binance CEO responds to accusations regarding the use of the USD1 stablecoin

Richard Teng, CEO of Binance, has firmly denied the accusations that the platform supported the USD1 stablecoin, linked to Donald Trump, to obtain the presidential pardon of Changpeng Zhao (CZ). This case highlights the tensions between crypto, political power, and regulation, with repercussions on bitcoin and the ecosystem.

Binance: Richard Teng rejects accusations of promoting the USD1 stablecoin

Richard Teng categorically denied any involvement by Binance in promoting the USD1 stablecoin, created by World Liberty Financial, a company associated with the Trump family. According to him, the decision to use this stablecoin for a $2 billion investment by MGX, a fund from Abu Dhabi, was independent of Binance. He emphasized that other platforms had already listed USD1 before Binance, thus rejecting allegations of collusion.

These statements come as media and legislators, like Senator Richard Blumenthal, suggest a possible conflict of interest. Teng reminded that Binance focuses on regulatory compliance and transparency. This is in a context where the exchange seeks to distance itself from past controversies. Notably after the conviction of Changpeng Zhao (CZ) for non-compliance with anti-money laundering rules.

For observers, these denials by Richard Teng regarding Trump’s USD1 stablecoin aim to preserve Binance’s reputation, already shaken by U.S. sanctions and legal investigations. However, will these denials be enough to reassure crypto investors?

Trump and his selective pardons: why CZ and not Sam Bankman-Fried?

Donald Trump granted a pardon to Changpeng Zhao (CZ), former CEO of Binance, after only four months in prison. Yet, he appears reluctant to extend this clemency to Sam Bankman-Fried, founder of FTX, sentenced to 25 years for fraud. This difference in treatment raises questions.

Some see it as a political strategy: CZ, although controversial, embodies a crypto sector Trump wants to attract. Conversely, Sam Bankman-Fried, a symbol of decentralized finance excesses, represents a greater electoral risk. Critics like Elizabeth Warren denounce decisions motivated by personal interests, mentioning ties between the Trump family and World Liberty Financial.

This selectivity in presidential pardons could reinforce distrust towards a system perceived as unfair, where alliances outweigh justice.

Bitcoin: the barometer of political and regulatory turbulence

Presidential pardon announcements, like that of Changpeng Zhao, often have an immediate impact on the crypto market. Bitcoin, in particular, reacts to political signals, oscillating between rise and volatility depending on decisions from Washington. Experts note that each intervention by Trump or regulators influences investor confidence.

The USD1 stablecoin, although marginal, illustrates how digital assets are becoming geopolitical tools. For traders, these dynamics remind that the crypto market remains closely linked to political decisions, far beyond technological fundamentals.

The Binance-Trump case reveals the complex links between crypto, power, and regulation. While Richard Teng tries to clarify Binance’s position, Donald Trump’s selective pardons raise ethical questions. Bitcoin remains a key indicator of these turbulences. One thing is certain: the intersection between politics and crypto will continue to be debated. Should we fear an increasing instrumentalization of digital assets?