Senate Democrats Question Trump’s Pardon of Binance Founder Zhao

Senators Question Trump’s Pardon of Binance Founder

Seven Democratic senators, led by Elizabeth Warren, questioned President Trump's pardon of Binance founder Changpeng "CZ" Zhao.
The senators alleged that the pardon undermines federal law enforcement and may be influenced by financial ties between Binance and the Trump family’s crypto venture, World Liberty Financial.
The letter requests answers to four questions regarding potential business ties influencing the pardon, with a deadline of Nov. 4.

Alleged Financial Connections

The senators highlighted links such as WLFI's USD1 stablecoin being minted on Binance Smart Chain and a $2 billion investment in Binance by MGX.
The Trump Organization's income reportedly surged 17-fold in early 2025, with $802 million attributed to cryptocurrency ventures.

Rep. Ro Khanna plans to introduce legislation banning politicians from crypto trading in response to the pardon.
Zhao is considering a libel lawsuit against Warren over claims he pleaded guilty to money laundering, which his lawyer contests as false.
Zhao had previously pleaded guilty to failing to maintain an effective anti-money laundering program at Binance and served four months in prison.
Binance paid over $4 billion in fines as part of the settlement.