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Reposted by kvpeckwriter
Senator Warren is only one of a group of Democratic Congresspeople who have been demanding answers about the pardon and the apparent quid pro quo.
![The letter outlines a timeline during which “Binance and Mr. Zhao began cozying up to the President and his family through a series of financial deals”. It details how Zhao and Steve Witkoff met in December 2024 at a cryptocurrency conference in Abu Dhabi. (Witkoff co-founded World Liberty Financial, a crypto company partly owned by Trump and his sons. When Witkoff became Trump’s special envoy to the Middle East and special envoy for Peace Missions, the company claimed he was in the process of divesting, though recent disclosures suggest he hasn’t [I95].) Next in the timeline, the Senators cite reporting that World Liberty had “discussed doing business” with Binance, potentially by having Binance develop a stablecoin. Then, they cite reporting about World Liberty’s launch of the USD1 stablecoin, and later reporting that Binance “wrote the basic code” for the token and promoted it to its large customer base. Finally, they point to the $2 billion deal, denominated in USD1, between Binance and the Witkoff-linked Emirati firm MGX — a deal that has already earned World Liberty around $35 million in interest since May [I95]. Trump and his family members hold a stake in World Liberty, and earn a portion of its revenue.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:exrxvyu6bpoym6mbnctke5tn/bafkreibv2f7o5rmgryhsmjez75j2sgsd6u442e6gcl4e7o7l4km7vfeytq@jpeg)
![The letter concludes with a series of questions about how Trump’s pardon will complicate law enforcement activities, what message it will send to criminals and to the crypto industry, and whether they believe Trump’s business involvement with Zhao influenced his decision. It’s signed by Senators Warren, Van Hollen (D-MD), Sanders (I-VT), Hirono (D-HI), Blumenthal (D-CT), Reed (D-RI), and Merkley (D-OR).8
Senator Murphy (D-CT) has also been on the warpath over the pardon, which he has called “pay-to-play”. After Binance’s US arm announced they would launch USD1 trading for customers in the US on October 29,b Murphy wrote: “One week after Trump pardoned Binance’s owner (for a stunning array of crimes related to terrorist and sex predator financing), Binance starts promoting Trump crypto. The White House is a full time, 24/7 corruption machine.”9 Binance.US responded to his allegations, writing, “[T]his was a business decision on the part of BinanceUS and nothing more. It’s unfortunate that even routine business decisions are now unfairly politicized by our elected officials.”10](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:exrxvyu6bpoym6mbnctke5tn/bafkreigflgreiubwu3hzecygrughsiffb7spmz2gbu6omswy4epxr6gdqq@jpeg)
November 3, 2025 at 10:40 PM
Senator Warren is only one of a group of Democratic Congresspeople who have been demanding answers about the pardon and the apparent quid pro quo.