BNB Jumps 5% After WSJ Reports That Trump Family Held Talks to Buy Stake in Binance.US
03/13/2025 20:49
The talks began after Binance reached out to Trump allies last year to strike a deal for the exchange's return to the U.S, according to report.
The talks began after Binance reached out to Trump allies last year to strike a deal for the exchange's return to the U.S, according to report.
Updated Mar 13, 2025, 1:48 p.m. UTCPublished Mar 13, 2025, 1:29 p.m. UTC
A Trump family representative held talks to buy a stake in Binance's U.S. arm, according to a Wall Street Journal report on Thursday.
The stake could have been acquired through Trump-family backed crypto project World Liberty Financial, the report said, citing people familiar with the matter.
Steve Witkoff, a friend of the U.S. president, was involved in the deal talks, the report added. Witkoff and his family founded World Liberty Financial two months before Trump was elected President in November.
The talks started last year after Binance reached out to Trump's allies offering to reach a deal with the family so as to bring the crypto exchange back to the U.S.
BNB, the native cryptocurrency of the Binance linked BNB Chain, jumped as much as 5% on the news, surpassing $600 for the first time in a week.
A representative for Binance.US declined to comment on the report.
UPDATE (March 11, 13:40 UTC): Adds BNB movement and Binance's comment.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
Helene Braun
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
