Odaily Planet Daily reported that a group of Democratic senators (including Maryland Senator Chris Van Hollen and Massachusetts Senator Elizabeth Warren) sent a joint letter to the Treasury Secretary and the Attorney General, requesting an investigation into the relationship between Binance and the Trump family's digital asset project. The letter pointed out that the Abu Dhabi Investment Company MXG completed a $2 billion investment in Binance this March through a USD1 stablecoin controlled by the Trump family, raising concerns about compliance risks. In 2023, Binance pleaded guilty to violating anti-money laundering regulations, and its former CEO CZ was sentenced to prison. Senate Democrats just paused the passage of the (stablecoin bill) on May 9, citing the clause 'to prevent current officials from profiting from cryptocurrency projects.' The joint letter requests that the Treasury and Justice Departments submit explanations on three aspects by May 21: the progress of Binance's compliance with the plea agreement, the timeline for exiting the U.S. market, and whether there have been discussions about a pardon for CZ. Previously, CZ confirmed that he has applied for a pardon from Trump. (Bloomberg)

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