Overview
- Seven Democratic senators led by Elizabeth Warren sent an Oct. 28 letter to Attorney General Pam Bondi and Treasury Secretary Scott Bessent seeking responses to four questions by Nov. 4.
- The letter alleges potential conflicts of interest tied to World Liberty Financial, citing claims that Binance helped code WLFI’s USD1 stablecoin, that it launched on Binance Smart Chain, and that related dealings could produce revenue for President Trump’s family.
- The senators argue the pardon undermines federal enforcement and could embolden white-collar crime in the cryptocurrency sector.
- The inquiry references Zhao’s 2023 guilty plea for failing to maintain an effective anti-money-laundering program and Binance’s more than $4 billion settlement, as well as his four-month prison sentence.
- Signatories include Warren, Chris Van Hollen, Bernie Sanders, Mazie Hirono, Richard Blumenthal, Jack Reed, and Jeff Merkley, while Rep. Ro Khanna says he plans legislation to bar politicians from trading crypto.