Under President Donald Trump’s leadership, the United States has taken bold steps to advance crypto adoption in 2025, from passing the GENIUS Act to ramping up efforts to regulate the digital asset industry. The efforts align with Trump’s promise to make the nation the “crypto capital of the world.”
But is this genuine progress, or is something else unfolding behind the scenes? Ray Youssef, CEO of the P2P trading platform NoOnes, believes it’s the latter. In a recent BeInCrypto podcast episode, he claimed the US is preparing a “controlled demolition of the entire crypto industry” and Binance could play a key role in it.
Binance’s Journey: Growth, Legal Battles, and a Presidential Pardon
Binance was founded by Changpeng Zhao (CZ) in 2017 in China. The company later relocated its operations due to the country’s tightening regulations on digital assets.
In just 6 months, Binance became the largest cryptocurrency exchange in the world by trading volume, a position it continues to hold. CoinGecko data showed that the exchange offers access to more than 400 cryptocurrencies and 1,600 trading pairs.
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Nonetheless, Binance’s growth has been accompanied by regulatory challenges. Authorities in the US accused the founder of violating the Bank Secrecy Act by failing to implement an effective anti-money-laundering (AML) program and breaching economic sanctions.
In 2023, Changpeng Zhao pleaded guilty, agreeing to pay a $50 million fine. At the same time, Binance agreed to pay $4.3 billion, one of the largest corporate penalties ever imposed. In addition, CZ also served a 4-month prison sentence
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Author: Kamina Bashir
