Democrats Request Treasury & DOJ To Clarify Binance’s Ties To Trump
The post Democrats Request Treasury & DOJ To Clarify Binance’s Ties To Trump appeared on BitcoinEthereumNews.com.
Democrat senators are taking a step further to investigate the allegations of corruption against Donald Trump by asking the US Treasury and Department of Justice (DOJ) for clarity on crypto exchange Binance’s relationship with the Trump family. This comes following reports that Abu Dhabi’s MGX will use the USD1 stablecoin, issued by Trump-linked World Liberty Financial, to finance its investment in the top crypto exchange. Democrat Senators Investigate Ties Between Binance & Trump According to a Bloomberg report, Democratic senators, including Elizabeth Warren and Chris Van Hollen, have demanded answers from the US Treasury and DOJ about the ties between Binance and the Trump family’s crypto ventures. In a letter addressed to Secretary Scott Bessent and AG Pam Bondi, the lawmakers raised concerns that the US president’s ties to an exchange that the country found guilty of breaching anti-money laundering regulations, alongside its founder Changpeng “CZ” Zhao. CZ was sentenced to four months in prison after pleading guilty to AML violations. In the letter, the senators alluded to reports about Abu Dhabi’s MGX using the USD1 stablecoin to finance its $2 billion investment in the crypto exchange. It is also worth mentioning that Trump-linked World Liberty Financial (WLFI) is the stablecoin issuer. Meanwhile, most of the stablecoin’s circulating supply is on the BNB, which puts the relationship between the crypto exchange and Trump’s family in the spotlight. As CoinGape reported in March, the Trump family allegedly discussed acquiring a stake in the US arm of the top crypto exchange. In the letter, the senators also said, The notion that this administration might permit Binance to continue operating and expanding in the United States is deeply troubling, particularly given that the company has shown time and time again its disregard for federal law and regulations that keep Americans safe. In line…
Filed under: News - @ May 10, 2025 5:27 am