Ah, the political stage—a place where drama, intrigue, and a healthy dollop of absurdity abound. Our ever-curious Democrat senators have decided to play detective, imploring the US Treasury and Department of Justice (DOJ) to elucidate the enigmatic relationship between the illustrious Binance and the Trump clan. Oh, what a show! 😏
Following whispers and scandalous reports, it appears that Abu Dhabi’s MGX intends to employ a USD1 stablecoin—issued by none other than the Trump-linked World Liberty Financial—to fund its investment in the top crypto exchange. One must marvel at the audacity!
Democrat Senators Investigate Ties Between Binance & Trump
According to a rather reputable Bloomberg report, stalwart senators such as Elizabeth Warren and Chris Van Hollen have taken it upon themselves to demand nothing short of clarity from our dear US Treasury and DOJ. Their focus? The knots binding Binance to the Trump family’s crypto escapades.
In a letter as pointed as a well-aimed quip, addressed to Secretary Scott Bessent and AG Pam Bondi, these lawmakers expressed their discontent, highlighting the Trump administration’s perilous dalliance with an exchange recently entangled in anti-money laundering debacles—and its ever-controversial founder, Changpeng “CZ” Zhao, who enjoyed a less-than-glamorous four-month stint in prison for his AML misadventures.
It appears the senators also took note of reports suggesting that Abu Dhabi’s MGX is using the aforementioned stablecoin to finance its staggering $2 billion investment. Not to leave any stone unturned, they remind us that it is indeed Trump-linked World Liberty Financial that plays the role of the elusive stablecoin mage.
Meanwhile, most of this stablecoin’s circulatory mischief is found on the BNB—and here our beloved family ties between the crypto exchange and the Trumps find themselves garish under the spotlight. According to CoinGape’s March musings, there were even murmurs of the Trump family contemplating the acquisition of a stake in the US division of this crypto colossus. One could almost hear the faint clink of champagne glasses!
In a letter that drips with both wit and incredulity, the senators penned:
“The very idea that this administration might allow Binance to merrily continue its expansion, despite a flagrant disregard for the federal laws designed to keep us safe, is frankly, quite troubling.” 🤨
Not content with subtle jabs alone, Warren and her cohorts have pressed Bessent and Bondi for a comprehensive report by May 21—detailing their endeavors to ensure Binance adheres to its plea agreement. They further seek an update on the exchange’s purported plans to exit the US, along with a clear timeline. One might say the plot is thickening like a well-reduced sauce!
The inquiry doesn’t end there. They have also demanded clarity on whether Binance has entertained discussions regarding a potential pardon for CZ with any official from the Treasury or DOJ, or if the exchange has even broached the subject of WLFI or its audacious aspirations to list its stablecoin on their platform. Oh, the nerve and the nuance!
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2025-05-09 20:49