A naukri.com initiative
Pymnts
3d
365
Image Credit: Pymnts
Democratic Senators Seek Answers About Any Ties Between Binance and Trump Family Ventures
- Democratic Senators, including Richard Blumenthal, Chris Van Hollen, Elizabeth Warren, and Sheldon Whitehouse, seek answers from government officials regarding potential ties between Binance and the Trump family ventures.
- The senators have sent a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, requesting information on Binance's compliance with its plea agreement, plans for exiting the U.S., potential pardon requests, and discussions about their relationship with the Trump family-related firm World Liberty Financial.
- Recent reports indicate that Binance utilized World Liberty Financial's stablecoin, USD1, for a $2 billion investment from Abu Dhabi's MGX, highlighting concerns about the cryptocurrency exchange's compliance obligations.
- The issue of stablecoins and their regulation has also led to political disagreements in the U.S. Senate, with Democratic senators pushing for provisions to prevent Trump and other officials from profiting from crypto ventures while in office, while two Republican senators oppose advancing the bill for other reasons.
Read Full Article
21 Likes
For uninterrupted reading, download the app