US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

A group of Democratic senators has reportedly sent a letter to leadership at the US Department of Justice and the Treasury Department expressing concerns about US President Donald Trump’s ties to cryptocurrency exchange Binance and potential conflicts of interest in regulating the industry. According to a May 9 Bloomberg report, Democratic senators asked Attorney General Pam Bondi and Treasury Secretary Scott Bessent to report on the steps Binance had taken as part of its November 2023 plea agreement with US authorities, amid reports that Trump and his family had deepened connections with the exchange. That settlement saw Binance pay more than $4 billion as part of a deal with the Justice Department, Treasury, and Commodity Futures Trading Commission, and had then-CEO Changpeng “CZ” Zhao step down. However, since Trump won the presidency in 2024, many lawmakers have accused the president of corruption from profiting off crypto while being in a position to influence laws and regulations over the industry source: https://cointelegraph.com/news/senators-investigation-binance-donald-trump?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound