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'Questions of integrity': President pardons crypto giant with ties to Trump family venture
MSNBCยท 2025-10-24 04:16
Cryptocurrency Market & Regulatory Landscape - The pardon of Binance founder CZ, whose net worth exceeds $85 billion, raises concerns about potential disruption to the US cryptocurrency market and his re-entry into the space [2][10] - CZ pleaded guilty to violating anti-money laundering rules, with Binance ordered to pay over $4 billion in fines [3] - The US government accused Binance of facilitating payments to sanctioned individuals, including Hamas, though Binance denies direct responsibility [13][14][15] - The White House press secretary stated that Biden's war on cryptocurrency is over, and Binance thanked the president for his commitment to making the US the crypto capital of the world [10][11] Political & Financial Dealings - The pardon is linked to CZ's ties to the Trump family's crypto venture, World Liberty Financial, which has received significant financial support, boosting the president's personal wealth [3][4] - A $2 billion deal between the UAE Sovereign Wealth Fund and Binance, facilitated by World Liberty Financial, raises questions about potential transactionalism [9][12][22] - Lobbying efforts around Trump, including a hunting buddy of Donald Trump Jr and a lawyer representing both World Liberty Financial and Binance, played a role in the pardon [8][9] Trade & Economic Policy - President Trump terminated all trade negotiations with Canada due to a disagreement over a TV ad featuring Ronald Reagan criticizing tariffs [1] - The decision to terminate trade negotiations is viewed as driven by grievance and ego, impacting important economic decisions [24][25]