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Senators Probe Binance's Reported Links to Trump Family's Crypto Interests

Democratic senators, including Elizabeth Warren and Chris Van Hollen, are pressing the Treasury Department and DOJ for an investigation into alleged connections between Binance and crypto ventures associated with the Trump family. A letter, reportedly sent to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, highlights concerns over Binance's prior AML violations and the conviction of its founder, CZ.  

The inquiry reportedly centers on specific allegations, including a $2 billion investment into the exchange by Abu Dhabi's MGX using the USD1 stablecoin. This stablecoin is issued by World Liberty Financial (WLFI), a firm linked to President Trump. The senators also noted that most of USD1's supply is on the BNB chain and recalled March reports suggesting the Trump family discussed acquiring a stake in Binance.US.  

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