Binance Aims for US Return: CZ Considering Stake Reduction, Looking at Trump and BlackRock Partnerships: Report

Binance is subtly preparing for a re-entry into the US market, contemplating structural modifications to its American operations as founder Changpeng Zhao expresses renewed interest in a nation from which the exchange previously withdrew, according to a Bloomberg report.

The ongoing discussions involve a potential recapitalization of Binance.US that might lessen Zhao’s controlling interest, a strategy viewed internally as crucial for navigating regulatory and licensing challenges across several states.

Sources familiar with the situation indicated that Zhao’s status as a majority owner has long hindered expansion efforts, especially after US regulators accused both him and the company in 2023 for inadequately maintaining effective anti-money laundering measures.

Binance.US Still Restricted in Numerous States as Comeback Rumors Intensify

Following that plea agreement, Zhao no longer holds any official position at Binance, which also limits his direct or indirect involvement in the company’s operations. Nevertheless, his influence continues to be substantial.

Recently pardoned by President Donald Trump, Zhao has publicly emerged as a staunch advocate for the administration’s pro-crypto policies and has frequently referred to the US as pivotal to the industry’s future.

BREAKING: Trump pardons Binance founder CZ following lobbying efforts, according to WSJ sources familiar with the matter.#Trump #CZ #Binancehttps://t.co/xduQ7XVO3i

— Cryptonews.com (@cryptonews) October 23, 2025

During his remarks earlier this month at Binance Blockchain Week, he expressed his “full intention to help make America the capital of crypto,” labeling the country an “emerging land” for the exchange after years of retreat.

Binance has denied assertions that its global operations are driving a planned return to the US market, insisting that the two entities function independently and do not share control.

Binance.US did not respond to requests for comments. Neither did Changpeng Zhao, the company’s founder, nor current CEO Richard Teng.

Speculation about a potential comeback follows a significant downturn for Binance.US, which was once a considerable force in the American crypto landscape. Changpeng Zhao had previously stated that the platform accounted for approximately 35% of US trading volume at its peak before a series of regulatory actions drastically diminished its footprint.

State regulators have taken action against the exchange on multiple fronts as several states revoked its licenses, while others, such as New York, never granted it permission to operate.

Consequently, Binance.US remains barred from conducting business in over a dozen states and US territories.

Why Crypto Firms Are Refocusing on the U.S.

While legislation aimed at clarifying the crypto market structure remains stalled in Congress, the overall regulatory climate in Washington has evolved.

Sen. Moreno cautions U.S. lawmakers: “No deal is better than a bad deal.” U.S. crypto legislation may be delayed
#Regulation #CLARITYActhttps://t.co/Z9QlO4yiD4

— Cryptonews.com (@cryptonews) December 9, 2025

The Trump administration has relaxed enforcement pressures, dropped several high-profile lawsuits, and progressed legislation such as the GENIUS Act for stablecoins, actions that industry leaders believe could transform access to the US market.

This shift is attracting other crypto firms to refocus on America. Exchanges, including Kraken and Gemini, are preparing for potential US listings, while institutional involvement has surged through spot Bitcoin ETFs.

Gemini, established by the Winklevoss twins, is aiming for a $2.22B valuation in its U.S. IPO.#Gemini #IPOhttps://t.co/VjzVpsCTAm

— Cryptonews.com (@cryptonews) September 2, 2025

For international exchanges, the combination of regulatory clarity, institutional acceptance, and the vastness of the US market has become increasingly hard to overlook.

Binance Discreetly Expands Partnerships With Key Financial Entities

Binance has also been enhancing relationships with established financial institutions.

According to insiders, the exchange has explored deeper cooperation with BlackRock, which already provides a tokenized money-market fund utilized as collateral on Binance.

Discussions have included additional products and potential revenue-sharing agreements, although BlackRock opted not to comment.

Simultaneously, Binance has forged closer ties with World Liberty Financial, a crypto venture associated with Trump’s family.

@Binance has broadened access to the Trump family–linked USD1 stablecoin, introducing new fee-free trading pairs.#Binance #Trumphttps://t.co/s0vD9yk357

— Cryptonews.com (@cryptonews) December 12, 2025

Internally, Binance has reorganized its leadership to ensure continuity. Co-founder Yi He, Zhao’s partner, has been promoted to co-CEO alongside Teng and has taken on a more prominent public role.

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