Family

The Wall Street Journal questions Trump's use of family company to extort Binance

ChainCatcher news, according to The Wall Street Journal, representatives of U.S. President Trump have held negotiations regarding a stake in the cryptocurrency exchange platform Binance.US, with possibilities including the Trump family holding shares or conducting transactions through World Liberty Financial.The article states that Trump is increasingly blurring the lines between his presidential position and business activities, and engaging in business transactions with Binance's largest shareholder, Zhao Changpeng, who is seeking a government pardon, would create an unprecedented overlap between his enterprises and the government. For the Trump family, holding shares in Binance.US would provide them with an opportunity to participate in the potential revival of the U.S. cryptocurrency trading market, as the industry is thriving with the U.S. government lifting regulatory threats.Binance.US experienced a sharp decline in business following regulatory actions, and after Trump's victory last year, Binance began exploring a return to the U.S. market. According to informed sources, the company expressed a willingness to reach an agreement with Trump's company and hopes to resolve its legal issues. After Trump's victory, Binance established a task force led by Chief Executive Richard Teng, which includes senior legal and compliance personnel, to evaluate various options.The Wall Street Journal reported that after Sun Yuchen invested in World Liberty Financial to become its largest investor, last month, the U.S. Securities and Exchange Commission (SEC) requested the court to suspend the fraud lawsuit against Sun Yuchen and his three companies. According to an informed source, Binance executives are internally discussing whether to take the same route: injecting funds into World Liberty Financial in exchange for a pardon for Zhao Changpeng.

Analysis: David Sacks may have potential differences with the Trump family

ChainCatcher news, financial analysis agency goodalexander published an analysis of White House cryptocurrency and AI director David Sacks' stance on U.S. cryptocurrency policy: A series of recent interviews with David Sacks indicates that the Trump administration's cryptocurrency policy may disappoint the market, as its stance leans more towards Bitcoin maximalism and fails to provide a clear path for the U.S. to become a unique "crypto capital," but at least it has prevented lawsuits against the industry and de-banking.The analysis points out that Sacks compares the U.S. Bitcoin strategic reserve to a "digital fortress," similar to the role of gold reserves. He particularly emphasizes the uniqueness of Bitcoin, including Satoshi Nakamoto's "perfect genesis," fixed supply, decentralization, and the "two trillion dollar bounty for a ten-year existence," all of which argue for value storage rather than "digital cash" or "value internet."Notably, Sacks stated that the tweets about ADA, XRP, and SOL released by Trump were "not particularly special," merely "the top five cryptocurrencies," which is in stark contrast to Eric Trump's exaggerated interpretation of his father's tweets. The analysis suggests that there may be potential differences between Sacks and members of the Trump family, who have heavily invested in the cryptocurrency industry.Regarding regulatory direction, Sacks emphasized SEC Commissioner Hester Peirce's idea of providing a grace period for network developers, allowing them to promote broad participation and the development of functional or decentralized networks under specific conditions. This means that the clear goal for cryptocurrency projects will be to become alternatives to Bitcoin—decentralized commodities that are centralized in the short term but have a grace period. Although the new policy is more favorable for industry development than during the Biden administration, analysts believe it may benefit new projects more than existing ones.
ChainCatcher Building the Web3 world with innovators