Trump-backed World Liberty Financial, alongside CZ, denies rumors of seeking ownership stake in Binance US

Donald Trump-backed World Liberty Financial (WLFI) denied reports on Friday that it's exploring a deal with the United States (US) arm of Binance exchange that involves owning a stake in the company.

Binance founder Changpeng Zhao (CZ) also denied the reports earlier on Thursday, claiming he hasn't spoken to anyone from Trump's family regarding such a partnership. This comes after The Wall Street Journal and Bloomberg published reports alleging that President Trump's family has been exploring a deal with Binance, including a pardon for the company's founder.

WLFI and CZ clears air on Binance partnership rumors

WLFI denied claims from reports that it's seeking an ownership stake in Binance, calling them "unsubstantiated."

"The unsubstantiated articles in the WSJ, Bloomberg, and elsewhere seem to be politically motivated and demonstrate a troubling pattern of agenda-driven journalism set on damaging the crypto industry," WLFI wrote in an X post on Friday.

Binance founder Changpeng Zhao also refuted the claims, stating that he hasn't discussed a pardon deal with the Trump administration.

This follows a report from The Wall Street Journal stating that the former Binance CEO has been "pushing for the Trump administration to grant him a pardon."

"Sorry to disappoint. The WSJ article got the facts wrong," CZ stated in an X post on Thursday.

He claimed that the allegations could be the work of "special forces" from the previous presidential administration's so-called "War on Crypto." Zhao also denied claims that the Trump family is seeking a deal with Binance to own a stake in its US arm.

"I have had no discussions of a Binance US deal with … well, anyone," he added.

Zhao spent four months in a US prison in 2024 following his guilty plea to charges including failure to implement adequate anti-money laundering (AML) procedures on the Binance US exchange.

The Wall Street Journal's report suggested President Trump's family representatives held talks to hold a financial stake in Binance's US arm. It claimed that Binance reached out to Trump's allies last year, seeking to strike a deal with the President during his campaign. 

The report alleges that Trump's World Liberty Financial (WLFI) was involved in the discussion, citing sources familiar with the matter.

Bloomberg also released a report alleging claims similar to those of The Wall Street Journal. The report mentioned that Binance and WLFI are exploring a partnership that involves creating a US Dollar stablecoin.

However, CZ also refuted their claims. "I/Binance have no business deals with WLF or the people mentioned in their article. We also did not buy any of the WLF coins," he wrote on X.