Binance CEO Denies Ties to Trump-Backed USD1 Deal

• Richard Teng denies Binance influenced USD1 usage in $2B deal.
• USD1 is a Trump-linked stablecoin raising political concerns.
• Binance distances itself from any political or financial bias.

Binance CEO Richard Teng has firmly denied reports that the exchange played any role in influencing the adoption of USD1—a stablecoin linked to Donald Trump—in a massive $2 billion financial deal in Abu Dhabi. The statement comes in response to growing concerns about political interference and crypto market manipulation.

The USD1 stablecoin, recently making headlines due to its association with Trump allies, was allegedly set to be used in a major financial transaction. However, Teng made it clear that Binance had “zero involvement” in recommending or pushing for the use of USD1 in the deal.

Maintaining Political Neutrality in Crypto

Teng emphasized Binance’s commitment to neutrality, especially in politically charged situations. “We don’t endorse or promote any politically associated tokens,” Teng said in a media interaction, distancing the exchange from USD1 and its connections.

As the world’s largest crypto exchange, Binance often finds itself in the middle of rumors and speculations. The CEO’s quick and direct response highlights the company’s efforts to avoid legal or reputational risks by remaining impartial.

USD1 and the Political Crypto Controversy

USD1 has sparked debate across the crypto space for its alleged political connections. It’s reportedly backed by entities supporting former U.S. President Donald Trump, raising red flags about its intended use and influence.

With the crypto industry still under heavy scrutiny from regulators and governments globally, Binance’s firm denial aims to reassure investors and users of the platform’s independence from political agendas.

Teng concluded by urging the public and media to rely on facts rather than speculation when it comes to crypto developments involving major players like Binance.