Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:
BINANCE FOUNDER DENIES REPORT: On Thursday, The Wall Street Journal’s Rebecca Ballhaus, Patricia Kowsmann, Angus Berwick, Josh Dawsey and Caitlin Ostroff crypto exchange Binance, citing people familiar with the matter. Binance’s billionaire founder, Changpeng Zhao, who served four months in prison after pleading guilty to violating anti-money-laundering requirements, has been pushing for the Trump administration to grant him a pardon, sources added.
Following the report, Changpeng Zhao, the founder of Binance and its ex-CEO, stated in a post to X: “Sorry to disappoint. The WSJ article got the facts wrong. More than 20 people have told me they were asked by the WSJ (and another media), ‘Can you confirm that CZ made some deal for a pardon?’ They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report. Fact: I have had no discussions of a Binance US deal with … well, anyone. No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge. Feels like the article is motivated as an attack on the President and crypto, and the residual forces of the ‘war on crypto’ from the last administration are still at work. I am always happy to make crypto great everywhere, US and the rest of the world. It’s good to see that even WSJ thinks I should be pardoned.”
Publicly traded companies in the cryptocurrency space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).
TIKTOK DEAL: Oracle (ORCL) has emerged as “a leading contender” to help run TikTok as part of a deal President Donald Trump is orchestrating to satisfy last year’s divest-or-ban law, report Jing Yang, Juro Osawa, Anissa Gardizy and Sri Muppidi of The Information, citing investors, bankers and former executives familiar with the matter. ByteDance management prefers Oracle, while President Trump has also indicated his support for Oracle playing a key role, though ByteDance’s leaders want to retain a hands-on role with TikTok’s operations in any deal, says the report, which adds that ByteDance’s stance “could undercut hopes of several U.S. bidders interested in buying control of TikTok.”
