U.S. President Donald Trump’s decision to pardon Binance’s founder and former CEO, Changpeng Zhao, has sparked a heated debate. In response to a journalist’s inquiry on the link to cryptocurrency, Trump vehemently stated, “I don’t know that crypto guy. I pardoned him at the behest of very good people. You know nothing about cryptocurrency, you’re fake news.” This statement has reverberated throughout both political and financial circles in Washington.
WLF and the Trump Family Financial Network
Independent analyst FatMan drew attention to the potential vested interests behind the incident via his X account, referencing Trump’s statements. According to FatMan, Binance holds a $2 billion reserve in a stablecoin called WLF instead of U.S. bonds, generating approximately $80–87 million in annual interest.
The analyst claims that the Trump family owns approximately 60% of WLF’s profits, translating to an annual income of $48–52 million in interest from Binance. He commented, “You can now openly transfer wealth to a president. It’s comical, yet true.”
Deepening Ethics Debate
Within the cryptocurrency community, opinions are divided over Trump’s pardon of Zhao. Some argue that pardoning Binance’s founder and former CEO is justified from a justice perspective and will reduce uncertainty in the sector. Conversely, critics point to the ethical implications of intertwining political influence with economic interests.
Trump’s statements concerning the issue could potentially reshape the political dynamics that will determine the future of cryptocurrency regulations. FatMan has clarified that the pardon was not directed against him personally, but believes the system has now entered an era of “transparent bribery.”