Binance CEO's "Denial" is Just Corporate Tap Dancing
So, Binance CEO Richard Teng is out here trying to tell us that there was nothing shady about Binance listing USD1, the Trump family's crypto venture, especially since it conveniently happened right before CZ's pardon. Give me a break.
Teng says MGX, that Abu Dhabi investment firm, decided to use USD1 for their $2 billion investment in Binance, and Binance just went along with it. Right. Like Binance, the world's biggest crypto exchange, is just a passive observer in all this. Sure, Jan.
He also claims USD1 was already listed on other exchanges. Okay, and? Listing it on Binance, the biggest exchange, is like getting your band a gig at Madison Square Garden after playing a few dive bars. It's a whole different level of exposure, and let's be real, that's what World Liberty Financial was banking on. Was it a coincidence? Binance CEO dismisses claims the firm boosted a Trump crypto venture ahead of CZ pardon
More Than Just "Engaging with Promising Projects"
Teng says Binance regularly engages with "promising new projects." That's corporate speak for "we'll list anything that makes us money, ethics be damned." And I’m sure the implied connection to a former US president didn't hurt. Maybe I'm being too cynical, but I’ve seen this movie before.
The Wall Street Journal reported that Binance not only facilitated the USD1 settlement but also helped build the technology behind the stablecoin. Teng conveniently leaves that part out. What's he got to say about that? Oh, wait, anonymous sources. Can't confirm, can't deny.
And then there's the PancakeSwap connection. PancakeSwap, allegedly associated with Binance, also listed USD1. It's all one big happy family of crypto grifters, isn't it?
The Swamp Keeps Getting Swampier
Elizabeth Warren is calling it corruption. Shocker. CZ pleads guilty, then somehow a Trump-backed crypto gets a boost, and then a pardon magically appears. It's textbook stuff. Though, let's be honest, expecting anything but corruption from politicians and crypto bros is like expecting a cat to bark.
It's all connected. DT Marks DEFI LLC, the Trump-affiliated firm, gets a cut of World Liberty Financial's revenue. The Trump family is supposedly raking in hundreds of millions, maybe billions. And they expect us to believe there's no conflict of interest? Please.
Then there’s the timing of MGX's $2 billion USD1 purchase, happening just two weeks before the White House signed a major agreement with the U.A.E. on microchips. You can't make this stuff up. It’s like a poorly written conspiracy thriller, except it’s real life.
Donald Trump Jr. dismisses the concerns, of course. He says his dad isn't involved. And Zach Witkoff, son of some U.S. Special Envoy, says his dad isn't focused on the business. These guys are so used to getting away with crap like this that they don't even bother with believable lies anymore.
Offcourse, Trump himself is all in on crypto now. Makes you wonder how much of this is above-board...