Binance Denies Political Motives Behind USD1 and WLFI Listings Amid U.S. Lawmaker Criticism

• Binance denies political motives behind USD1 and WLFI listings.
• Lawmakers question timing after Trump’s pardon of CZ.
• WSJ links Binance reps to Trump allies before election.

Binance has rejected claims from U.S. lawmakers linking its latest token listings to political influence, stating that business factors, not politics, drove the additions of USD1 and WLFI.

A dispute has emerged between U.S. lawmakers and cryptocurrency exchange Binance after its American division listed the Trump-associated stablecoin USD1 and the token WLFI. The move came shortly after the Trump administration pardoned Binance founder Changpeng Zhao on October 23.

U.S. Senator Chris Murphy accused the exchange of promoting “Trump crypto” following the listings, citing concerns related to the timing of Zhao’s pardon. Murphy characterized the developments as evidence of corruption within the administration, alleging that Binance’s recent actions were coordinated with political interests.

Binance.US opened deposits for USD1 just five days after Zhao’s pardon, prompting speculation that the listings were tied to political arrangements. Both USD1 and WLFI are linked to World Liberty Financial, a project associated with the Trump family.

Binance’s Response to Allegation

In a public statement, Binance described the listings as “purely business decisions,” stating that each token underwent full due diligence and legal review prior to approval. The company stated that it maintains a rigorous internal process for evaluating new assets, overseen by a core committee.

The exchange noted that both USD1 and WLFI are already listed on more than 20 exchanges globally, including Coinbase, Robinhood, and Kraken. Binance expressed concern that “even routine business decisions are now being unfairly politicized by elected officials.”

The exchange also addressed broader scrutiny from lawmakers, following recent allegations by Senator Elizabeth Warren. Founder Changpeng Zhao has filed a defamation case against Warren in response to her public statements accusing Binance of fraud.

WSJ Report Highlights Election-Period Discussions

According to a report by The Wall Street Journal, representatives linked to Zhao held talks with allies of Donald Trump before the election, seeking to resolve Binance’s ongoing legal challenges in the United States. The discussions allegedly included potential cooperation with a Trump family venture connected to World Liberty Financial.

Sources cited by WSJ suggested Binance formed a senior task force to explore the partnership after Trump’s election victory. Zhao has publicly denied speculation of his return to the company despite these reports.