Trump Denies Binance CEO Zhao Ties, Calls Case Political
Former President Donald Trump denied any personal or financial ties to Binance founder Changpeng Zhao during a November 2 ’60 Minutes’ interview, rejecting claims that the exchange financed stablecoin purchases for pro-Trump groups. He characterized Zhao’s legal proceedings as politically motivated and insisted his pardon of Zhao — who served four months in prison and paid a $4.3 billion settlement for money laundering charges — was not politically driven.
Trump emphasized the importance of cryptocurrency to the US economy and urged America to lead innovation in the cryptocurrency industry, particularly against rivals such as China. Meanwhile, Zhao faces renewed scrutiny after U.S. Senate Democrats, led by Senator Elizabeth Warren, called for a federal investigation into potential conflicts over a proposed USD stablecoin for Trump’s crypto venture. Reports also suggest Zhao may file a defamation lawsuit against Warren. Traders should monitor developments at Binance and evolving regulatory dynamics, as these factors could impact BNB’s performance in both short- and long-term trading.
Neutral
The dual narrative of a high-profile pardon and renewed political scrutiny creates offsetting forces for BNB. In the short term, Trump’s pardon of Zhao could ease legal uncertainty around Binance, supporting positive trader sentiment. However, calls for a federal investigation and potential lawsuits introduce fresh regulatory risks. Over the long term, U.S. advocacy for crypto leadership may benefit Binance’s market position, but ongoing political tensions and oversight could cap upside. This balance of supportive and adverse factors points to a neutral impact on BNB’s price trajectory.