Is Trump Protecting Binance? US Lawmakers Push DOJ for Clarity

Crypto is no longer just about money or technology, it is now also a large part of politics. A fresh storm is brewing in Washington while the best American senators raise red flags about the rising influence of Donald Trump in Crypto. They ask questions about his reported links with Binance, one of the largest crypto exchanges in the world.

And they want to answer quickly.

American senators ask Trump’s Crypto tires with Binance

Democratic legislators, including senator Elizabeth Warren and Chris van Hollen, have expressed serious concern about President Donald Trump’s growing band with the crypto world, especially with Binance, the world’s greatest crypto exchange.

Eventually, the concern came immediately after the news broke out that MGX, an investment firm of Abu Dhabi, plans to use a stablecoin called USD1, coupled to Trump’s crypto company, World Liberty Financial (WLFI), to invest $ 2 billion in Binance.

It’s not just about the money. The laws ask whether Trump and his allies behind the scenes can influence the crypto policy. And that makes some people worried.

The history of Binance is concerned

Let’s not forget it, Binance recently had to pay $ 4.3 billion in fines in a settlement with American supervisors. The former CEO, CZ Zhao, also had to resign and sit out a prison sentence of 4 months, together with a personal fine of $ 50 million.

As a result, the senators have wondered whether Trump is trying to protect Binance or take advantage of the exchange.

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Trump’s crypto movements attract eyebrows

Trump has been added to the controversy and has become increasingly active in the crypto world. From launching its own memecoin project that has already been drawn millions, from reimbursements to the hosting of private dinners for TOP Trump Memecoin holders on May 22.

And with the crypto company of his family behind the USD1 Stablecoin now bound to a Binance investment, his presence in the digital asset world is difficult to ignore.

Senators demand clear answers

All this controversy began to take on new crypto rules when the US tried. Senator Elizabeth Warren blocked a vote on a stablecoin bill called the Genius Act. Warren said that legislators should not help “to facilitate this kind of corruption” without asking the difficult questions.

Senator Warren now asks the Ministry of Justice and the Treasury for a full update. They want to know:

• Does Binance follow the legal agreement?
• Does it really leave the US? If so, when?
• Whether Trump’s Stablecoin is urged to offer on Binance?
• Did anyone talk about a grace for CZ?

They asked for an answer before 21 May.

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