Just a week after Donald Trump granted a pardon to Binance founder Changpeng Zhao (CZ), Binance.US suddenly announced the listing of the USD1 stablecoin, a token tied to World Liberty Financial (WLFI) — a financial project reportedly backed by the Trump family.
The timing has sparked a firestorm in Washington, with critics accusing Binance.US of engaging in a “political quid pro quo” between power and the crypto world.
Allegations of Political Favoritism After CZ’s Pardon
The controversy erupted after Senator Chris Murphy became the first to publicly denounce Binance.US. On X, he wrote:
“Just a week after Trump pardoned the owner of Binance — who was convicted of funding terrorism and sex crimes — the exchange is now promoting Trump’s crypto.”
Democratic lawmakers argue that Binance.US has crossed the line between business and politics, turning itself into a political tool for Trump’s “crypto revival” campaign.
They warn that a stablecoin backed by a former president’s family could become a ‘currency of power,’ undermining the independence of the U.S. digital finance sector.
Mounting Criticism and Backlash
Political opponents have long criticized the Trump family’s deep involvement in World Liberty Financial, calling it a blatant conflict of interest, especially as Trump actively pushes for domestic stablecoin development.
The outrage intensified after Trump’s controversial pardon of CZ, which, according to Representative Maxine Waters, was “the result of months of behind-the-scenes lobbying between CZ and the Trump family,” with billions of dollars funneled into WLFI to cement their alliance.
“Trump is handing out favors to crypto criminals who helped line his pockets,” Waters said sharply.
Binance.US Responds: “Purely a Business Decision”
Amid mounting criticism, Binance.US quickly denied any political motive.
In an official statement, the exchange said the listings of USD1 and WLFI were part of its standard business review process, approved by its listings committee well before recent events.
A spokesperson emphasized:
“This is purely a business decision, and nothing more. It’s unfortunate that even routine company operations are being distorted and politicized.”
Binance.US also noted that USD1 is already listed on more than 20 major U.S. platforms, including Coinbase, Robinhood, and Kraken, underscoring that the move was not unique to their exchange.
Today, USD1 ranks as the world’s sixth-largest stablecoin, with a market capitalization of about $2.97 billion.
However, the controversy surrounding Trump’s connections to Binance shows no signs of cooling — and could soon escalate into one of Washington’s biggest political-financial battles in the coming weeks.
