Binance CEO Refutes Claims of Investing in Trump-Supported Stablecoin via WLF for CZ’s Forgiveness
Richard Teng, the CEO of Binance, has dismissed allegations that the company channeled close to $2 billion into US President Donald Trump’s crypto initiative in return for a recent pardon granted to Changpeng Zhao. Binance founder CZ acknowledged a violation of the Bank Secrecy Act in 2023, associated with Binance’s inadequate anti-money laundering measures. He received a four-month prison sentence in April 2024 and was released that September. Subsequently, Binance agreed to a settlement of $4.3 billion and the appointment of an external crypto law monitor.
On 23 October 2025, CZ was granted a Presidential pardon.
Notably, Binance entered into an investment agreement with Abu Dhabi’s MGX, settled in the Trump-affiliated stablecoin USD1, developed by the Trump family’s World Liberty Financial.
In an interview with CNBC on 4 November 2025, Teng stated, “First of all, the decision to use USD1 for the transaction between MGX and Binance as a strategic investor was made by MGX. We were not involved in that decision.”
He further noted, “Regarding USD1, I’m pleased that both parties reached an agreement.” Teng considered CZ’s pardon to be “fantastic news.”
I’m still shocked that stories like this which come out daily still get largely ignored. The most corrupt person to ever hodl any public office in US history. I will keep posting them every day and try to amplify them, even when most media doesn’t care. https://t.co/R9YUs3C4H4 pic.twitter.com/NwVpoyp9bC
— Ron Filipkowski (@RonFilipkowski) October 30, 2025
Shortly after pardoning CZ, Trump claimed he did not recognize the Binance founder. “I don’t know who he is. I heard it was a Biden witch hunt,” he remarked, adding that his sons are involved in crypto but “they’re not in government.”
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Binance CEO Wagers on India: Says “With Clear Regulations, India Could Lead Globally”
Is Binance CEO Richard Teng correct in believing that India has the potential to become the next crypto titan if it prioritizes regulatory clarity? Teng, who heads the world’s largest crypto exchange, has disclosed that he is in advanced discussions with Indian regulators, including the Reserve Bank of India (RBI) and the Financial Intelligence Unit (FIU-IND), to develop a compliant and growth-oriented framework for digital assets in the nation.
In a conversation with CNBC on 3 November 2025, Teng remarked, “India boasts the largest demographic base and one of the most tech-savvy populations globally. He continued, “In every nation with a youthful, connected populace, the adoption of crypto tends to accelerate quickly. With clear regulations, India could emerge as a global leader.”
Binance CEO Richard Teng claims India
— BTC EXPERT INDIA (@Btcexpertindia) November 3, 2025
Teng’s perspective on India’s crypto asset landscape was well-received. Coinfinex Exchange took to X, stating, “He’s correct, India possesses the population, tech expertise, and ambition. What we require now is not just acknowledgment; we need infrastructure that supports our traders. Reduced fees (0.1% versus a global average of 0.5%), immediate access to INR, and platforms designed for Indian conditions rather than merely replicating Western models. The potential for superpower status exists, but only if we stop approaching crypto as an experiment and begin constructing with intention.”
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Key Takeaways
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CZ received a Presidential pardon on 23 October 2025. The Binance CEO refuted claims of investing in Trump-associated USD1 in return for the pardon.
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The Binance CEO’s emphasis on India as pivotal in the next phase of crypto growth highlights the importance of national policy to the industry’s worldwide trajectory in 2026.
The post Binance CEO Denies Investing In Trump-Backed Stablecoin Through WLF For CZ’s Pardon appeared first on 99Bitcoins.
