The lawmakers have requested an update on the matter by May 21 and seek details about federal oversight actions related to Binance’s compliance with its plea agreement.
USD1 was used to settle MGX’s $2 billion investment in Binance in March. MGX also contributed funding to Trump’s $100 billion AI infrastructure initiative, which was announced shortly after his January inauguration.
The senators argue that these transactions warrant further scrutiny due to Binance’s legal history and its interactions with the current administration.
Binance and Zhao admitted in 2023 to violating US money laundering and sanctions laws. Zhao stepped down from his CEO role and served a four-month sentence in federal prison.
Despite the company’s criminal record, the senators expressed concern that Binance continues exploring partnerships within the US, including with Trump-affiliated entities.
The letter stated:
“The notion that this administration might permit Binance to continue operating and expanding in the United States is deeply troubling.”
