Binance CEO Richard Teng Clears Air on Trump Stablecoin Allegations in High-Stakes Deal
Key Takeaways
- Binance CEO Richard Teng firmly denies any involvement in pushing the Trump family’s USD1 stablecoin for a $2 billion investment deal with MGX, emphasizing that the choice was made solely by the investor.
- The controversy highlights deeper scrutiny on ties between cryptocurrency exchanges like Binance and political figures, including US President Donald Trump, following a presidential pardon for former CEO Changpeng Zhao.
- Allegations of corruption and “pay for play” politics have surfaced from US lawmakers, with reports suggesting Binance may have contributed to the stablecoin’s development, though Teng refutes this.
- Amid ongoing discussions, the story underscores the intersection of crypto business, stablecoins, and global investments, with no confirmed evidence of wrongdoing by Binance.
- As of 2025, this case continues to spark debates on Twitter about ethical practices in cryptocurrency exchanges, prompting users to explore reliable platforms like WEEX for transparent trading.
In the fast-paced world of cryptocurrency, where billion-dollar deals can make headlines overnight, few stories have captured as much attention as the recent allegations tying Binance to a stablecoin backed by the Trump family. Imagine a scenario where a major crypto exchange, a powerful political dynasty, and a massive investment from the Middle East all collide—it’s the kind of plot that could fuel a blockbuster thriller. But this isn’t fiction; it’s the real-life drama unfolding around Binance CEO Richard Teng’s denial of any role in promoting World Liberty Financial’s USD1 stablecoin. As someone who’s followed the crypto space closely, I can’t help but dive into this, breaking it down in a way that feels like we’re chatting over coffee about the latest twists in the industry.
Let’s start from the beginning. Richard Teng, who stepped into the CEO role at Binance amid a whirlwind of changes, recently addressed claims that his company influenced a huge financial transaction involving a stablecoin linked to former US President Donald Trump’s family. According to reports, Teng stated that Binance had no part in deciding to use USD1 for a $2 billion investment from an Abu Dhabi-based firm called MGX. This denial comes at a time when the crypto world is under intense scrutiny, especially with political undertones that make everything feel even more charged.
Picture this: You’re running
You may also like

Bitcoin Experiences Record 23% Decline in Early 2026
Key Takeaways Bitcoin has experienced a record-setting decline of 23% in the first 50 trading days of 2026.…

Whale Holding 105,000 ETH Faces $8.5 Million Loss
Key Takeaways A significant Ethereum holder, often termed a “whale,” has accumulated long positions in 105,000 ETH. The…

Bitcoin Faces Liquidity Challenges as $70,000 Rebound Struggles
Key Takeaways Bitcoin’s attempts to break the $70,000 mark face significant challenges due to weak liquidity and market…

Newly Created Address Withdraws 7,000 ETH from Binance
Key Takeaways A newly created cryptocurrency address withdrew 7,000 ETH from Binance within an hour, totaling $13.55 million.…

Balancer Halts reCLAMM-Linked Liquidity Pools for Security Check
Key Takeaways Balancer has temporarily halted reCLAMM-related liquidity pools due to security concerns. A report from the bug…

Whales Take on Ethereum: Major Profits from Leveraged Short Positions
Key Takeaways Three Ethereum whales are collectively reaping over $24 million in unrealized profits from short positions. The…

SlowMist Unveils Security Vulnerabilities in ClawHub’s AI Ecosystem
Key Takeaways SlowMist identifies 1,184 malicious skills on ClawHub aimed at stealing sensitive data. The identified threats include…

Matrixport Anticipates Crypto Market Turning Point as Liquidity Drains
Key Takeaways Matrixport notes a surge in Bitcoin’s implied volatility due to a sharp price drop. Bitcoin price…

Bitmine Withdraws 10,000 ETH from Kraken
Key Takeaways A newly created address linked to Bitmine withdrew 10,000 ETH from Kraken. The withdrawal value amounts…

In the face of the Quantum Threat, Bitcoin Core developers have chosen to ignore it

Don't Just Focus on Trading Volume: A Guide to Understanding the "Fake Real Volume" of Perpetual Contracts

Crypto Price Prediction Today 18 February – XRP, Bitcoin, Ethereum
Key Takeaways XRP’s potential as a replacement for SWIFT is bolstered by regulatory approvals, potentially driving its price…

XRP Price Prediction: XRP is Outpacing Solana and Targeting Binance Coin Next – Should You Invest Now?
Key Takeaways XRP Ledger has moved into the sixth place by tokenized real-world asset value, surpassing Solana and…

New AI Predicts the Price of XRP, Dogecoin, and Solana By 2026
Key Takeaways ChatGPT anticipates significant price increases for XRP, Dogecoin, and Solana by the end of 2026. XRP…

Arthur Hayes Shares Two Scenarios for Bitcoin Price, Calling for a Major Crypto Rally
Key Takeaways Arthur Hayes predicts a significant crypto rally fueled by a $572 billion liquidity injection from the…

Bitcoin Price Prediction: Abu Dhabi Gov Funds Buy $1 Billion in BTC – What Do They Know?
Key Takeaways Abu Dhabi has revealed a $1 billion stake in Bitcoin through major ETF investments, signaling strong…

Bitcoin’s Divergence From Nasdaq Signals Dollar Liquidity Risk, Says Arthur Hayes
Key Takeaways Arthur Hayes highlights a concerning divergence between Bitcoin and the Nasdaq, pointing to a potential dollar…

Lagarde’s Possible Early Exit Could Alter Digital Euro Plans and Stablecoin Oversight
Key Takeaways Christine Lagarde’s potential departure as ECB president may disrupt the digital euro timeline and stablecoin policies.…
Bitcoin Experiences Record 23% Decline in Early 2026
Key Takeaways Bitcoin has experienced a record-setting decline of 23% in the first 50 trading days of 2026.…
Whale Holding 105,000 ETH Faces $8.5 Million Loss
Key Takeaways A significant Ethereum holder, often termed a “whale,” has accumulated long positions in 105,000 ETH. The…
Bitcoin Faces Liquidity Challenges as $70,000 Rebound Struggles
Key Takeaways Bitcoin’s attempts to break the $70,000 mark face significant challenges due to weak liquidity and market…
Newly Created Address Withdraws 7,000 ETH from Binance
Key Takeaways A newly created cryptocurrency address withdrew 7,000 ETH from Binance within an hour, totaling $13.55 million.…
Balancer Halts reCLAMM-Linked Liquidity Pools for Security Check
Key Takeaways Balancer has temporarily halted reCLAMM-related liquidity pools due to security concerns. A report from the bug…
Whales Take on Ethereum: Major Profits from Leveraged Short Positions
Key Takeaways Three Ethereum whales are collectively reaping over $24 million in unrealized profits from short positions. The…