Did Changpeng Zhao Turn Binance into a Promoter for Trump’s Crypto Dollars? How USD1 Could Reshape Fed Policy

According to Forbes, roughly 90% of the Trump family firm's stablecoins are sitting on Binance. World Liberty Financial might grow that share even more after they launch a marketing farming campaign for USD1 holders.

Legally speaking, the international crypto exchange Binance isn't allowed to serve US citizens. So it's plausible that CZ and the exchange used their reach to push Trump's crypto dollars to offshore buyers.

World Liberty Financial makes money the Tether way—issuing USD1 and parking the fiat USD proceeds in US government bonds. Right now, 10-year Treasury yields are north of 4%, which translates into a tidy return for the Trump family.

If the Fed cuts rates, bond yields dip. That could be an unpleasant surprise for crypto investors this year. Easier monetary policy might stop Bitcoin's slide, but it's not exactly in the Trump family's interest.

Publicly, the US president is leaning on the Fed chair to lower rates. Behind the scenes, though, he'd rather install Kevin Warsh and take direct control of the regulator's policy. And that kind of control doesn't necessarily mean rates will actually go down.