Senators are calling for answers about possible ties between Binance and Donald Trump’s new crypto firm. The concerns follow reports of meetings between Binance executives and Treasury officials despite the exchange’s legal settlement.
Five Democratic senators wrote to Treasury Secretary Scott Bessent and Attorney General Pam Bondi. It counted their names, which were transmitted from Chris Van Hollen, Elizabeth Warren, Richard Blumenthal, Sheldon Whitehouse, and Mazie Hirono.
They referenced Binance’s guilty plea 2023 for money laundering and sanctions violation offenses. The senators doubted that Binance’s recent moves reflect a desire to evade the court-imposed duties.
Also Read: Hoskinson Drops the Hammer: Cardano Speeds Up for 2026 Leios Launch
Stablecoin USD1 Raises Questions Over Political Influence
Reports indicate Binance may now use a Trump-backed stablecoin called USD1 to form new investment partnerships. The senators highlighted this link as a potential attempt to reenter the market through a political channel.
Binance was ordered to exit the U.S. and operate under close monitoring by the Department of Justice and the Financial Crimes Enforcement Network. Former CEO Changpeng Zhao also received a four-month prison sentence under the same settlement.
The letter expressed concern over any efforts to reduce oversight or alter the terms of that agreement. It also asked whether there have been discussions about a possible pardon for Zhao.
Lawmakers Push for Clarity on Federal Oversight
The senators demanded details about any recent meetings involving Binance and federal officials. They asked for clarification based on Binance’s continued compliance with the settlement and any existing plans to remove Binance from the U.S. market.
They warned that such an association may be an active plan to circumvent financial monitoring. The letter emphasized the need for clarity in reporting and strict adherence to Anti-crime regulations.
Senators are exhorting vital agencies to monitor Binance closely to ensure full transparency. In their letter, the senators highlight the necessity of objective oversight of the crypto sector, which should be free of political influence.
Also Read: Stratis (STRAX) Price Prediction 2025–2029: Will STRAX Hit $ 0. 2400 Soon?
