Binance seeks to curb US oversight during deal talks with Trump's crypto company, WSJ says
April 11 (Reuters) - Binance executives met U.S. Treasury officials last month and discussed loosening government oversight of the company, while exploring a business deal with President Donald Trump’s crypto venture, World Liberty Financial, the Wall Street Journal said.
Executives of the world's largest cryptocurrency exchange asked Treasury officials to remove a U.S. monitor overseeing its compliance with anti-money-laundering laws, the paper said on Friday, citing people familiar with the talks.
Binance has also been in talks to list a new dollar-pegged cryptocurrency from World Liberty Financial, it added.
At the meeting, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes asked for the removal of monitorship or reduction of its duration and scope, the paper said.
Binance, the Treasury Department and World Liberty Financial did not immediately respond to Reuters' requests for comment.
Last month, the Journal said Binance's billionaire founder Changpeng Zhao had been pushing for a pardon from the administration.
In November 2023, Zhao stepped down from his CEO role and pleaded guilty to breaking U.S. anti-money laundering laws in a $4.3-billion settlement that resolved a years-long investigation.
Related Articles
[IN-DEPTH ANALYSIS] Tesla's 2025 tariff impact and valuation outlook
TradingKey - Trump's tariff policy has led to rising costs for electric vehicles and energy storage, intensified market competition, and declining demand in China and the United States.The company is heavily dependent on China's rare earths and batteries and needs to accelerate local production...
SoFi Technologies: Rewiring Financial Infrastructure from the Ground Up
TradingKey - SOFI Financial Services and Tech now comprise 47% of adjusted net revenue in 2024, up from 38% in 2023, accelerating the shift away from lending.
Robinhood's Quiet Resurgence: From Meme Broker to Fintech Platform
TradingKey - For years, institutional investors wrote Robinhood (HOOD) off in unqualified terms as a retail trading flash-in-the-pan, a beneficiary of a pandemic-driven speculative mania.
Gold Miners Shine: M&A and Safe-Haven Demand Fuel Rally
TradingKey - Gold stocks emerged as a bright spot in last Friday’s market session. Barrick Gold (GOLD ) saw its share price rise 7.02%, Newmont Corporation climbed 7.91%, and Coeur Mining (CDE) soared with a 7.83% gain.
[Reuters Breakingviews] Trump kicks all of Asia into the China tariff boat
HONG KONG, April 3 (Reuters Breakingviews) - Donald Trump’s second trade war is a battle of one against all. Reciprocal tariffs announced on Wednesday by the White House hit China with a hike of 34 percentage points, taking the fresh levies on exports from the People’s Republic up 5...