In June, cryptocurrency mogul Changpeng Zhao arrived at Abu Dhabi's St. Regis resort in a white Nissan SUV, joking he was the world's wealthiest Uber driver despite being worth an estimated $114 billion. The Binance founder, known as CZ, recently returned to Abu Dhabi after serving a four-month prison sentence for money laundering charges related to his exchange. Zhao maintains close ties with powerful ruling families, including the UAE clan and the Trumps.
Last year, Binance forged a business relationship with World Liberty Financial, the crypto start-up founded by President Trump and his sons, which generated $799 million for the former president. Mr. Trump pardoned Mr. Zhao last October, a move widely criticized as a quid pro quo. In his memoir.
Source: New York Times Business · Summarized by HeadlinesBriefing