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Binance Token Rises After Trump Stake Report

  • The Binance token, BNB, rose 4% after the Wall Street Journal reported that the Trump family has held talks about a possible financial interest in Binance's US arm.
  • Binance, the world's largest cryptocurrency exchange, has faced legal issues with US agencies in the past, including money laundering charges.
  • Binance's CEO, Changpeng Zhao, denied the discussions about a deal with the Trump family and seeking a pardon, stating that the WSJ article got the facts wrong.
  • Uncertainty remains about the structure of any potential Trump stake in Binance, but one possibility being considered is routing it through World Liberty Financial, a crypto venture backed by the Trump Family.

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