Is Binance Cutting Deals with Team Trump? That's What Senate Democrats Are Asking

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That's What Senate Democrats Are Asking Senator Elizabeth Warren and colleagues asked the attorney general what's up with Binance and reports of U.S. talks over its enforcement compliance. By Jesse Hamilton | Edited by Nikhilesh De Updated Sep 18, 2025, 6:57 p.m. Published Sep 18, 2025, 6:55 p.m. Changpeng "CZ" Zhao (Nikhilesh De/Modified by CoinDesk) What to know : Democratic U.S. lawmakers, including Senator Elizabeth Warren, questioned Attorney General Pam Bondi about what's going on with Binance's ongoing enforcement order. The senators sent a letter that also referenced President Donald Trump's own financial connection to Binance. Binance, the largest global crypto exchange, is still under the constraints of a massive, $4.3 billion U.S. enforcement action , though Senator Elizabeth Warren and other Democrats are asking the Trump administration about reports that it's easing off on those orders. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . In 2023, the major digital assets platform agreed to settle with U.S. authorities for sanctions violations, insufficient money-laundering protections and operating without proper licensing, and its leader, Changpeng "CZ" Zhao, pleaded guilty to Bank Secrecy Act violations, stepping down from the company and serving a brief prison sentence . Warren and two other senators, Richard Blumenthal and Mazie Hirono questioned Attorney General Pam Bondi in a letter this week, asking about reports by outlets including Bloomberg News that the company has spoken to the U.S. about dropping its independent compliance monitor. The senators also raised the continuing financial ties between the family of President Donald Trump and Binance, through their stake in World Liberty Financial. "These reports make it more important than ever that the public understand the Trump administration’s interactions with, and relationship to, Binance and its employees," they wrote, demanding "meaningful" answers to several questions about the U.S. Department of Justice's interactions with Binance, including whether a pardon is being considered for CZ. As the markets contemplated a potential return of CZ, the Binance-tied BNB token rocketed over $1,000 for the first time, leaping over SOL to become the fifth-largest cryptocurrency by market capitalization. The prosecution of Binance in the U.S., where the independent Binance.US arm still operates, occurred under the previous administration, and the arrival of President Trump and his pro-crypto choices to be regulators and law enforcement officials has rapidly shifted the stance of the U.S. government. Many of the efforts of previous officials to address digital assets market risks and the dangers of their use in illicit finance and drug trafficking have been overtaken by the administration's interest in financial innovation and establishing the U.S. as a global crypto hub. In May, the Securities and Exchange Commission moved to drop its long-running lawsuit against Binance. Read More: BNB Hits $1,000 All-Time High as Binance Nears DOJ Deal, Rumors of CZ’s Return Grow Congress Elizabeth Warren Changpeng Zhao Binance More For You RCMP Seizes $56M CAD in Crypto, Shuts Down TradeOgre in Canada’s Largest Digital Asset Bust By Margaux Nijkerk , AI Boost | Edited by Nikhilesh De 2 hours ago According to the authorities' Eastern Region division, the seizure followed a year-long probe by the Money Laundering Investigative Team (MLIT). What to know : The Royal Canadian Mounted Police (RCMP) have executed the country’s largest cryptocurrency seizure to date, recovering more than $56 million CAD in crypto from the exchange TradeOgre. The move not only marks a record seizure but also the first time Canadian authorities have dismantled a cryptocurrency trading platform, the RCMP said in a press release . 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