How Trump’s arrival was reflected in Binance

16 months after the departure of the founder of Binance, Chanpan Zhao (CZ) from the post of its general director, the cryptocurrency officer turned from an outcast into a trading platform loyal to the American administration. In an interview with CNBC, the current head of Binance Richard Teng said that the team of US President Donald Trump has carried out a “fantastic” reboot of the entire crypto industry, writes RBC Crypto.

At the end of 2023, Binance agreed to replace Chanpen Zhao (CZ) as head of the site and pay $ 4.3 billion of a fine in order to resolve the accusations of the US Ministry of Justice of laundering and violation of sanctions. Zhao sentenced an additional fine of $ 50 million and a prison term in the United States for four months. He was released at the end of September 2024. Binance formally removed him from managing the business. Instead of CZ, Richard Teng took the role of the head of the crypto -tank.

Binance has been the largest exchange in the world for several years both in terms of trading in the futures market, in the spot market, and in the number of active users. As Teng noted, “at any time, our share in the global market exceeds 40%,” and the number of users over only a year increased from 170 million to 265 million.

A few years ago, Binance carefully hid her legal entity, trying to become a decentralized platform, not like the rest of the crypto -tank. In 2020, CZ compared Binance to Bitcoin blockchain, which does not and cannot have an office.

Five years later, in 2025, Binance turned into an organization accountable to the US authorities and managed by the board of directors. Although the exchange still does not provide services in the United States, the current head Teng positively appreciated the influence of the policy of the new administration on the exchange.

“Now I obey the board of directors. We have a council of seven directors, including three independent directors and an independent chairman. We benefited from all these changes, ”Teng said, noting that Binance went through the“ repression of the former US administration, the so -called Choke Point 2.0, ”but now the president is very friendly for cryptocurrency in the United States.

Teng also noted the progress in the field of regulation in such jurisdictions as Japan, Australia, Hong Kong, Brazil, Argentina and the United Arab Emirates: “We received many proposals from governments of different countries of the world.”

The Operation Choke Point 2.0 – this is how the crypto participants call the policy of the previous administration in the United States under President Joe Bayden. The essence of the problem is that Cristobo -Business is faced with difficulties when opening and maintaining bank accounts in the United States.

Over the past few years, under the leadership of the enemy of cryptocurrencies, Gary Gensler SEC has initiated many investigations of the activities of cryptocurrency exchanges and services. The basis for this was the fact that part of the digital coins fall under the determination of securities and therefore the commission has the authority to control the activities of cryptocurrencies according to the laws on securities.

Trump previously promised that in the event of a victory in the presidential election, “first of all” he would fire the secretary, who left his post on the day of Trump’s inauguration. After that, starting in January, one after another, the terminals of the SEC proceedings and investigations in relation to crypto companies follow. In addition to Binance, which, together with the SEC, filed a request for the suspension of the trial for 60 days, the Coinbase exchange said that the regulator agreed to withdraw the claim against the company. The regulator also completed the investigation against the Robinhood broker and his cryptocurrency business. A similar statement was made by the operator of the decentralized UNISWAP exchange. A little earlier, the SEC case was announced by the Opensea NFT market. The proceedings are also discontinued to the Gemini cryptocurrencies. SEC has stopped investigation against cryptocurrency companies. Who is on the list

Tenga’s interview was held against the backdrop of the information of The Wall Street Journal that the US President Donald Trump is discussing the possibility of a share in Binance.us, the American division of Binance. The cryptocurrency rush, in turn, held the largest investrae in the history of cryptocurrencies, having received $ 2 billion from the State Investment Fund MGX from Abu Dhabi

WSJ wrote that several options for the structure of the transaction are discussed using World Liberty Financial – a crypto project related to the sons of the US president. According to the publication, the founder of Binance thus can achieve pardon and removal of criminal record. No one else confirms this information, and CZ denies the discussion of the transaction by calling WSJ information “an attempt to create a story for a report.”

“It is felt that the article was released as an attack on the president and cryptocurrency. The residual forces of the “war with the cryptocurrencies” of the last administration are still valid, ”Zhao wrote.

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Source: Cryptocurrency

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