Democratic Party - Democratic National Committee

10/28/2025 | Press release | Distributed by Public on 10/28/2025 14:19

BREAKING: Corruption Watch: Days After Pardon, Trump Partners with Convicted Founder of Crypto Company Binance to Launch Coin in U.S. Arrow

Today, international crypto giant Binance announced the expansion of its partnership with World Liberty Financial, the Trump family's crypto startup. The announcement comes LESS THAN A WEEK after Donald Trump pardoned Changpeng Zhao, the convicted founder of Binance, who pleaded guilty to money laundering in 2023.

In response, DNC Rapid Response Director Kendall Witmer released the following statement:

"Less than a week after Trump pardoned convicted money-launderer Changpeng Zhao, the two of them struck a lucrative business deal to line Trump's pockets. As if his pay-for-play pardon for Zhao wasn't enough, Trump will now make even MORE money from his family's long-standing partnership with Binance and their shady relationships with foreign countries. Trump continues to get his hands dirty with money-hungry crooks as he sells out the American people to enrich himself."

Binance is one of the main drivers of the growth of World Liberty's stablecoin, called USD1, that has contributed to the massive surge in Trump's personal wealth since he took office. The Trump family has made hundreds of millions of dollars through World Liberty, which has received money from firms linked to Russia, China, and the U.A.E.

Reminder: Zhao was convicted on serious money laundering charges after he admitted to failing to uphold compliance laws, which resulted in sanctioned countries and terrorist groups moving money through Binance. To secure a pardon, Mr. Zhao hired Ches McDowell, a lawyer, lobbyist and longtime hunting companion of Donald Trump

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