The Trump family’s crypto start-up, World Liberty Financial, has seen a significant increase in success thanks to its alliance with the largest crypto exchange in the world, Binance. The exchange has offered various marketing promotions that encouraged customers to buy USD1, World Liberty’s stablecoin. As a result, about 85 percent of USD1 coins now in circulation are held in accounts on Binance.
This close relationship between World Liberty and Binance has raised concerns among ethics experts and some members of Congress due to President Trump’s involvement with both the company and the industry. Despite these concerns, the ties between the two have strengthened since President Trump pardoned Binance’s founder, Changpeng Zhao.
Binance’s promotional incentives have helped boost World Liberty’s business, including offering customers interest on USD1 holdings. The exchange has also made it easier for customers to buy coins issued by World Liberty, making the company’s stablecoin more attractive to traders.
However, some critics argue that these promotions could be seen as a conflict of interest and may not be allowed under current laws. Congress is now debating a bill to regulate crypto exchanges, which could impact World Liberty’s business.
In an effort to address these concerns, the White House has convened a meeting between banking and crypto representatives to hash out a compromise. Meanwhile, Binance continues to offer promotions that have helped boost World Liberty’s success, despite ongoing debates about the legitimacy of such incentives.
Source: https://www.nytimes.com/2026/02/07/business/binance-trump-crypto.html