Democrats in the U.S. Senate have initiated an investigation into potential connections between the cryptocurrency exchange Binance and the family of former President Donald Trump. The document addressed to federal officials emphasizes the use of the USD1 stablecoin, which was issued by World Liberty Financial, a company owned by Trump.
This is reported by Бізнес • Медіа
Request to Officials
Senators Chris Van Hollen and Elizabeth Warren, along with colleagues Sheldon Whitehouse and Richard Blumenthal, have called on Treasury Secretary Scott Bessen and Attorney General Pam Bondi to provide clarification regarding Binance’s connections to assets that may be linked to the Trump family. The letter mentions that in March, the exchange used the USD1 stablecoin to finalize a $2 billion deal with MGX.
“Our concerns about Binance’s compliance obligations are heightened by recent reports that the company is using the Trump family’s stablecoin to collaborate with foreign investment firms.”
Concerns About Binance’s Operations
The senators expressed serious concerns regarding Binance’s ongoing operations in the U.S. market, given the numerous violations of federal laws and regulations aimed at protecting citizens. They also requested a report on the compliance with the plea agreement, the timeline for Binance’s exit from the U.S. market, and details of interactions with World Liberty and the listing of the USD1 stablecoin by May 21.
It should be noted that the U.S. Senate previously launched a preliminary investigation into cryptocurrency businesses linked to Trump.