BlockBeats news, on May 9, according to Bloomberg, a group of 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, requesting an investigation into the relationship between Binance and the Trump family's digital asset projects. The letter pointed out that the Abu Dhabi investment company MXG completed a $2 billion investment in Binance through the Trump family's controlled USD1 stablecoin in March this year, raising concerns about compliance risks. In 2023, Binance pleaded guilty to violating anti-money laundering regulations, and CZ has served four months in prison.
Democratic senators just postponed the passage of the (stablecoin bill) on May 9, citing the provision 'to prevent current officials from profiting from crypto 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. According to the Wall Street Journal, representatives of the Trump family had previously discussed investing in Binance.US (which CZ has denied). The letter stated: 'The idea that this administration might allow Binance to continue operating and expanding in the U.S. is deeply troubling, especially considering the company's repeated disregard for federal laws and regulations that protect the safety of Americans.'
