WSJ reported that a Trump family representative held talks with Binance to take a financial stake in its U.S. arm. CZ  has also reportedly sought a pardon from President Trump. The Binance founder denied the report, saying it was a war on crypto.

The Trump family reportedly discussed acquiring a stake in Binance U.S. after its founder, Changpeng Zhao, sought pardon after his guilty plea in 2023. Zhao responded to the reports, saying he had not talked with anyone about a Binance US stake. He added that Binance has no business deals with WLF and that Binance did not buy any of the WLF coins.

Trump’s family holds talks with Binance 

A Wall Street Journal report claimed that people familiar with the matter said Trump’s family representatives discussed putting the president in business with Binance. The report indicated that Binance founder Changpeng Zhao, who had served four months in prison after pleading guilty to money laundering charges, was pushing the Trump administration to grant him a pardon. 

According to WSJ, representatives of the Trump family have engaged in discussions about acquiring a financial stake in the U.S. arm of @binance.@cz_binance, looks like even more liquidity and firepower for aping into alts! 🔥😆 pic.twitter.com/QcCAsyO5Yr

— bnb_gem (@bnb_gem) March 13, 2025

The report added that Zhao remained Binance’s largest shareholder and that talks had begun after the crypto exchange reached out to Trump’s allies last year to strike a deal. The report claimed that the negotiations were part of the company’s strategy to return to the U.S. after its exile. 

It added that it is still unclear what stake the Trump family would take if the deal were concluded. The report suggested that the agreement could be contingent on a pardon. The report also highlighted some possibilities that included the deal would go through Wold Liberty Financial, a cryptocurrency venture currently backed by the U.S. president. 

The  WSJ report indicated that Steve Witkoff, Trump’s longtime friend, was involved in the negotiations with Binance. It highlighted that an administration official had denied Witkoff’s involvement in the discussions and that he was divesting from his business interests. 

The report suggested that the Trump family increasingly benefited from his election victory. It added that the first lady, Melania Trump, signed a $40 million documentary deal. The report suggested that Trump sought financial settlements from companies he had sued earlier and that much of it had been used to fund his presidential library. 

Zhao responds to the report, saying, “It got its facts wrong.”

Changpeng Zhao responded that the WSJ report was inaccurate. He said that more than twenty people had told him they were contacted by the media outlet to confirm whether he had made a deal for a pardon. The founder said that he had not discussed a Binance US deal with anyone. He noted that he was the only person in US history who was ever sentenced to prison over one charge.

Zhao said the article was a motivated attack on the president and crypto. He added that it was a residual of the forces of the “war on crypto” from Biden’s administration. The founder expressed that he was always happy to make crypto great within the United States and the rest of the world.  Binance’s BNB token recorded a 4% increase after the Wall Street Journal report. 

Binance faced a lawsuit in the United States in 2023 that led to a $4.3 billion settlement with authorities. The suit claimed the exchange allowed money from terrorists to flow through its platform. Zhao resigned as Binance’s CEO as part of the settlement agreement and served four months in prison. 

The company recently began positioning itself for a possible return in the US. It established an internal working group under CEO Richard Teng to explore legal ways it can reenter the US market. 

The exchange announced that the United Arab Emirates state-backed investor MGX had acquired a minority stake in the crypto exchange for $2 billion.MGX’s managing director and CEO said the investment aligned with its commitment to advancing blockchain’s potential in digital finance. He said the need for secure and scalable blockchain infrastructure was necessary as institutional adoption accelerated.

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A popular meme coin has shown signs of recovery as it entered bullish territory with analysts showing optimism for the future of the crypto in the upcoming months. Analysts predict that Dogecoin’s current momentum will push it to a possible 318% rally, giving their insights on what is driving this move upward.

Price Rally Around The Corner?

An analyst said in a post that Dogecoin could be heading for a 318% increase, which is possible since the breakout experienced by the meme coin aligns with its historical price movements.

“With the breakout target at $0.6533, another +318% increase to reach it can be in the works and prices may only be preparing here to do so,” JavonTM1 said.

Prices of $DOGE (Dogecoin) are still up nearly +129% since breaking out of the pictured resisting trend and with prices still broken out and in a position to confirm another set of Higher Lows, even more upside can be coming!

With the breakout target at $0.6533, another +318%… https://t.co/nhmMIkJgqv pic.twitter.com/Qum16794Li

— JAVONMARKS (@JavonTM1) March 11, 2025

JavonTM1 made the prediction after the meme coin soared by 129% following a breach of a critical resistance trendline. “Prices of $DOGE (Dogecoin) are still up nearly +129% since breaking out of the pictured resisting trend, and with prices still broken out and, in a position to confirm another set of Higher Lows, even more upside can be coming!”

The Bullish Impulse Wave

Analysts used the Elliott Wave Theory to explain the future of DOGE. According to the charts, Dogecoin’s price might be “in the middle of a bullish impulse wave.” They argued that the coin’s volume spikes showed that there was an increase in market participation, supporting the possibility of sustained upward movement.

Meanwhile, a curved trendline on the chart indicates that the meme coin has shifted from a prolonged correction phase into a breakout phase.

Last month, JavonTM1 noted that Dogecoin, hitting $0.6533, is just around the corner. “It’s only a matter of time here with such a major breakout response and climb thus far but a move above is looking more and more likely!”

Another analyst believes that DOGE is heading towards a potential price rebound, reinforcing the coin’s bullish outlook.

Ali Martinez used the TD Sequential indicator to explain the likely surge, saying that the indicator has flashed a buy signal on the daily chart, a cue used by investors to identify trend reversals.

Martinez added that this usually happens after a bearish phase, indicating that the meme coin could be moving toward the recovery phase.

Data showed that DOGE remains in a strong position following the price breakout, indicating possible further gains.

At press time, Dogecoin is traded at $0.1720 per coin with a market cap of more than $25 billion.

Featured image from Pexels, chart from TradingView