Senators Seek Probe of Trump-Binance Crypto Ties

Democratic senators, including Elizabeth Warren, Chris Van Hollen, Sheldon Whitehouse, and Richard Blumenthal, have called for an investigation into President Donald Trump’s connections to cryptocurrency exchange Binance. Their request follows reports that the Trump family's stablecoin, USD1, was used by Abu Dhabi-based MGX to facilitate a $2 billion investment in Binance, despite Binance’s previous guilty plea for money laundering and sanctions violations. The senators are seeking information on Binance’s compliance with its plea agreement, its planned exit from the U.S. market, and any communications about Trump family crypto ventures or stablecoin listings. The inquiry comes as Trump has launched his own memecoin and participated in high-profile crypto fundraising events, raising concerns about potential conflicts of interest and regulatory influence. Lawmakers argue that increased oversight is necessary due to ongoing industry scrutiny and recent political actions, such as Senate Democrats blocking a bill to regulate stablecoins. The investigation request highlights broader debates over cryptocurrency regulation and political influence in the U.S.