A crypto exchange founded by convicted billionaire Changpeng Zhao stepped up its promotion of a venture backed by the Trump family, only one week after President Donald Trump pardoned him on charges related to money laundering.
On Tuesday, Binance's U.S. subsidiary said it would begin accepting deposits of a stablecoin issued by World Liberty Financial, a crypto venture that has added to Trump's personal wealth.
Even before Tuesday's announcement, a state-backed Abu Dhabi fund used the Trump-linked USD1 stablecoin to invest $2 billion in Binance. Trump has reported $57.4 million in income from World Liberty Financial over the past year.
"MGX’s decision to use the USD1 stablecoin gave World Liberty the chance to earn potentially tens of millions of dollars in interest," Bloomberg noted. Zhao's company now holds about 75% of USD1's market cap.
Reuters reported on Tuesday that the Trump Organization earned $802 million from various crypto ventures during the first half of 2025.
For his part, Trump claimed that he had never met Zhao before issuing the pardon.
