Corruption Watch: Trump’s SEC Drops Major Case Against Crypto Giant Binance After Its Former CEO Partnered With Trump Family On Lucrative Crypto Venture

Is a Trump Pardon for Convicted Binance Founder “CZ” Next?

WASHINGTON, D.C. – In the latest egregious case of President Trump’s family business dealings apparently influencing Trump administration actions, last night, Trump’s SEC announced it had voluntarily dismissed its lawsuit against Binance, the world’s largest crypto exchange, for allegedly misleading investors about trading controls, among other accusations. 

The dropped case comes as the Trump Family’s World Liberty Financial Inc. – a crypto venture that has alarmed ethics experts – has grown increasingly close with Binance Founder CZ, going so far as to post photos arm-in-arm with the man who just finished his prison sentence late last year. CZ was convicted of felony money laundering and who allegedly wants to trade a stake in Binance with the Trump family for an administration pardon in order to facilitate Binance’s return to the U.S. market, which Zhao has denied.

Then on May 1, 2025, Zach Witkoff, a WLFI co-founder and son of Trump Special Envoy to the Middle East Steve Witkoff, announced that Emirati state-backed investment fund MGX would make a $2 billion business deal with Binance using WLFI’s cryptocurrency coins, potentially generating “tens of millions of dollars a year in revenue for the Trump family and its partners at World Liberty.”

Then on May 22, Trump’s WLFl “announced that its USD1 stablecoin, a cryptocurrency whose value is pegged to the U.S. dollar, started trading on Binance.” – and which “would be used to facilitate [the] $2 billion investment from Abu Dhabi-backed MGX into Binance.”

The SEC’s decision also comes a week after President Trump held an openly corrupt gala at his golf club for winners of a dubious competition for top holders of Trump’s cryptocurrency meme coin $TRUMP, in which 80% of the Top 25 winners appeared to be either foreign or regulation dodgers. Accountable.US found that the #1 holder was in fact Chinese crypto billionaire Justin Sun, whose SEC fraud case was paused in February 2025 after Sun bought $75 million in tokens offered by Trump crypto venture WLFI.