Binance CEO denies allegations company pushed Trumps’ stablecoin: Report

Richard Teng said Binance “didn’t partake” in the decision for an Abu Dhabi-based company to use World Liberty Financial’s USD1 for a $2 billion investment into the exchange.

Richard Teng, CEO of the global cryptocurrency exchange Binance, has reportedly denied allegations that the company played a role in selecting a stablecoin issued by a Trump family-backed crypto business as part of a multibillion-dollar deal.

According to a Tuesday CNBC report, Teng said Binance “didn’t partake” in the decision to use USD1, the stablecoin launched by the Trump family’s World Liberty Financial business, for a $2 billion deal with an Abu Dhabi-based company, MGX.

The Binance CEO spoke amid scrutiny from many lawmakers after US President Donald Trump issued a pardon for former CEO Changpeng “CZ” Zhao, leading to allegations of corruption and “pay for play” politics.