Odaily News A group of U.S. Democratic senators (including Maryland Senator Chris Van Hollen and Massachusetts Senator Elizabeth Warren) sent a joint letter to the Secretary of the Treasury and the Attorney General, asking for an investigation into Binance's connection with the Trump family's digital asset project. The letter pointed out that Abu Dhabi investment company MXG completed a $2 billion investment in Binance in March this year through the USD1 stablecoin controlled by the Trump family, which raised concerns about compliance risks. In 2023, Binance pleaded guilty to violating anti-money laundering regulations, and its former CEO CZ was sentenced to prison.
On May 9, Senate Democrats just postponed the passage of the Stablecoin Act on the grounds of "preventing current officials from profiting from crypto projects." The joint letter requires the Treasury Department and the Justice Department to submit three explanations before May 21: Binance's progress in fulfilling the plea agreement, the timetable for exiting the U.S. market, and whether a pardon for CZ has been discussed.
Earlier news, CZ confirmed that he had applied for Trump's pardon. (Bloomberg)