U.S. senators sent a letter to the Treasury and Justice Departments, requesting an investigation into the connection between Binance and the Trump family's digital asset project

ChainCatcher News, a group of Democratic senators from the United States (including Maryland Senator Chris Van Hollen and Massachusetts Senator Elizabeth Warren) sent a joint letter to the Treasury Secretary and the Attorney General, requesting an investigation into the connection between Binance and the Trump family's digital asset project. The letter pointed out that the Abu Dhabi investment firm MXG completed a $2 billion investment in Binance through a USD1 stablecoin controlled by the Trump family in March of this year, raising concerns about compliance risks. In 2023, Binance pleaded guilty to violating anti-money laundering regulations, and its former CEO Zhao Changpeng was sentenced to prison.

On May 9, Senate Democrats just delayed the passage of the "Preventing Current Officials from Profiting from Crypto Projects" provision in the Stablecoin Act. 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 Zhao Changpeng.