<ul><li>Democratic senators have raised concerns about cryptocurrency exchange Binance's ties to US President Donald Trump's family's crypto ventures, prompting a call for a DOJ report on Binance's compliance and possible conflicts of interest.</li><li>Senators have questioned Binance's connection to Trump's family-backed company, World Liberty Financial (WLFI), which reportedly used the WLFI stablecoin for a $2 billion investment in Binance, leading to concerns over regulatory influence and favoritism in the crypto industry.</li><li>The letter from lawmakers, including Elizabeth Warren and Chris Van Hollen, also highlighted issues surrounding Binance's compliance with anti-money laundering laws and raised queries about a possible pardon for the former CEO, Changpeng Zhao.</li><li>Tensions in the US Senate over stablecoin regulation further escalated as the GENIUS Act, aimed at regulating stablecoins, stalled amid Democratic opposition, citing concerns about corruption linked to Trump's crypto ventures and potential regulatory influence.</li></ul>

Democratic Senators Call for Report on Binance’s Role in Trump Family’s Crypto Deals

Discover more