Democrats Request Treasury & DOJ To Clarify Binance’s Ties To Trump

By: bitcoin ethereum news|2025/05/10 13:45:03

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 with this, Warren and the other senators have asked Bessent and Bondi to provide a report by May 21 on steps they have taken to ensure that the crypto exchange is complying with its plea agreement. They futher demanded an update on the exchange’s planned exit from the US and a timeline for when that will happen. Additionally, they probed for clarity on whether Binance has discussed a potential pardon for CZ with any Treasury or DOJ official and if the exchange has talked about WLFI or the firm’s interest in listing its stablecoin on the exchange. ✓ Share: Boluwatife Adeyemi Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/democrats-request-treasury-doj-to-clarify-binances-ties-to-trump/

In Q1 2026, the total financing amount in the primary cryptocurrency market was $4.59 billion, a significant decrease of 46.7% compared to the previous quarter, with 170 financing events, a decline of 14.2% quarter-on-quarter, indicating that the market as a whole has entered a significant contracti...

USDC is the only AI token

Don't be harvested by AI proxy tokens: A deep dive into why stablecoins are the only true master of the AI economy, with the ultimate answer behind the 18 trillion settlement amount hidden in software autonomous operation enterprises.

The voice of a senior Polymarket user: In fact, we have already been surpassed by our competitors

The former track definers are now becoming followers of their competitors' pace. The era of startup makeshift platforms is over; please present a financial-grade platform as it should be.

Transcript of Dr. Han, founder of Gate, speaking at the University of Hong Kong: Breaking the Matthew Effect and Winning in Asymmetric Competition

Gate CEO Dr. Han appeared at the University of Hong Kong to deliver a keynote speech on the theme of "Breaking the Matthew Effect," revealing the essence of unfair competition in the cryptocurrency market, and emphasizing that only by establishing a first-mover advantage and independent thinking ear...

Who will replace AAVE as the new king?

Morpho and JupLend are narrowing the gap, but is this a true disruption or an illusion caused by external shocks? Looking back at the three phases of lending on Ethereum and Solana, the answer may be surprising.

Fu Peng 2026 First Public Speech: What Exactly Are Crypto Assets? Why Did I Join the Crypto Asset Industry?

The advancement of technology is driving the transformation of finance, and crypto assets are at the center of the storm.

Lattice Capital Founder: Crypto VC, Seeing is Believing Because of Faith

"If you believe that this industry will grow 100 times in the future, with less competition and lower valuations, then now is the right time to invest. This is the path we have chosen."

The Pitch Is Set. So Is the Trade: CHZ, SportFi, and the UCL Window That Won't Wait

CHZ is gaining momentum as SportFi narratives accelerate alongside the UEFA Champions League（UCL） and global football cycles. This article explores how CHZ, fan tokens, and the broader SportFi ecosystem are driven by real-world events, market narratives, and capital flows—offering insights into why SportFi is emerging as one of the most dynamic sectors in crypto.

Morning Report | SpaceX acquires Cursor for $60 billion; Kalshi and Polymarket launch perpetual contract trading; NeoCognition completes $40 million financing

Overview of Important Market Events on April 22

IMF | The Future of Stablecoins and Payments: Evidence from Financial Markets

IMF deep report reveals the impact of stablecoin regulation: the US "Genius Act" triggers a $300 billion market earthquake for payment giants, with cross-border payments being the hardest hit, and the industry landscape is facing a reconstruction of "disintermediation."