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Binance founder Changpeng Zhao denied allegations of improper dealings involving World Liberty Financial, the Trump family’s DeFi project, The New York Times reported.
Zhao pushed back on a Wall Street Journal report that Binance had asked Abu Dhabi investment firm MGX to use World Liberty Financial stablecoin USD1 to pay its investment. Zhao said MGX decided how to make the payment and that the only consideration was using a reputable stablecoin that would not disappear overnight. Zhao added there was nothing improper.
On President Donald Trump’s pardon, Zhao said his lawyers had regularly updated him on the process, but described it as a “black box” to him. Zhao also said Forbes overstated his wealth at more than $100 billion, putting his actual net worth at around $10 billion to $30 billion.