Binance CEO Richard Teng has trashed the claims that the company contributed nearly $2 billion to US President Donald Trump’s crypto venture, in exchange for Changpeng Zhao’s very recent pardon. Binance Founder CZ admitted to a Bank Secrecy Act violation in 2023, linked to Binance’s weak anti-money laundering controls. He received a four-month sentence in April 2024. He was released from prison that September. Binance later agreed to pay $4.3 billion and accept an outside compliance monitor.
On 23 October 2025, CZ received a Presidential pardon.
Interestingly, Binance entered into an investment deal with Abu Dhabi’s MGX which was settled using Trump-backed stablecoin USD1, created by Trump family’s World Liberty Financial.
While talking to CNBC on 4 November 2025, Teng said, “First of all, the usage of USD1 [for the] transaction between MGX as a strategic investor into Binance, that was decided by MGX. We didn’t partake in that decision.”
However, he added, “In the case of USD1, I’m glad that both parties worked it out.” Teng had welcomed CZ’s pardon as “fantastic news.”
I’m still shocked that stories like this which come out daily still get largely ignored. The most corrupt person to ever hold any public office in US history. I will keep posting them every day and try to amplify them, even when most media doesn’t care. https://t.co/R9YUs3C4H4 pic.twitter.com/NwVpoyp9bC
— Ron Filipkowski (@RonFilipkowski) October 30, 2025
Shortly after granting a pardon to CZ, Trump denied knowing the Binance founder. “I don’t know who he is. I heard it was a Biden witch hunt,” he said, adding that his sons are involved in crypto but “they’re not in government.”
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Binance CEO Bets On India: Says “With Clear Regulations, India Could Lead Globally”
Could Binance CEO Richard Teng be right in thinking that India could be the next crypto superpower if the country focuses on regulatory clarity? Teng, known for leading the world’s largest crypto exchange, revealed that he is engaged in high-level talks with Indian regulators, including the Reserve Bank of India (RBI) and the Financial Intelligence Unit (FIU-IND), to shape a compliant and growth-friendly framework for digital assets in the country.
Talking to CNBC on 3 November 2025, Teng said, “India has the largest demographic base and one of the most tech-savvy populations in the world. He added, “In every country with a young, connected population, crypto adoption tends to be the fastest. With clear regulations, India could lead globally.”
💥 Binance CEO Richard Teng says India 🇮🇳could be the next #crypto superpower, citing its young, tech-savvy population and ongoing talks with regulators pic.twitter.com/v6mjaL7dN4
— BITCOIN EXPERT INDIA (@Btcexpertindia) November 3, 2025
Teng’s stance on India’s crypto scene was welcomed. Coinfinex Exchange took to X to say, “He’s right, India has the population, the tech talent, and the hunger. What we need now isn’t just recognition, we need infrastructure that backs our traders. Lower fees (0.1% vs. global 0.5%), instant INR access, and platforms built FOR Indian realities, not just porting Western models. The superpower potential is there, but only if we stop treating crypto like an experiment and start building like we mean it.”
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