Democratic senators have requested that U.S. Attorney General Pam Bondi and the Department of Justice provide more information regarding President Trump's pardon of Binance co-founder Zhao Changpeng "CZ."
In an open letter on Tuesday, seven Democratic senators wrote that the pardon "sends a signal to cryptocurrency executives and other white-collar criminals that they can commit crimes without punishment." These lawmakers accused Trump of encouraging criminal activity "as long as it benefits him."
The letter follows similar criticisms earlier this week from House Financial Services Committee senior Democrat Maxine Waters, who stated that "Trump is rolling out the red carpet for cryptocurrency criminals who help him profit."
Signatories include Senators Elizabeth Warren, Chris Van Hollen, Bernard Sanders, Mazie Hirono, Richard Blumenthal, Jack Reed, and Jeffrey Merkley. They wrote, "This pardon will make it harder for federal law enforcement to combat and deter crime."
In the letter, the senators highlighted several alleged connections between Zhao Changpeng, Trump, and Binance. The Trump family launched their decentralized finance (DeFi) platform, World Liberty Financial (WLFI), at the end of last year, which has ties to Binance's operations.
After the launch, there were allegations that Zhao Changpeng facilitated connections for WLFI's leadership and arranged meetings, which CZ denied at the end of May. Other reports indicated that Binance played a role in developing the code behind the stablecoin USD1 issued by WLFI.
Earlier reports this month also claimed that Zhao Changpeng's pardon was the result of lobbying efforts by Binance, which included paying $450,000 to lobbyists connected to Trump and $290,000 to former SEC chair candidate and CZ's lawyer, Teresa Goody Gillen.
The senators believe that Trump's pardon could "openly undermine the work of federal law enforcement" and send a message to "cryptocurrency executives and other white-collar criminals that the law does not matter."
They have requested that the Department of Justice and Bondi explain the expected impact of the pardon on individuals and companies involved in crime, particularly in the cryptocurrency industry. They also asked for clarification on whether Trump's alleged financial relationship with CZ influenced his decision to issue the pardon.
Last week, Trump pardoned CZ, stating that people told him "what he did wasn't even a crime." Zhao Changpeng had previously admitted to violating the U.S. Bank Secrecy Act in 2024 by failing to maintain an effective anti-money laundering program at Binance.
Related: Interpretation of the CZ pardon case, what impact does the U.S. pardon system have on the crypto circle?
Original: “Democratic Senators Question Trump's Pardon of CZ, Demand Explanations from the DOJ”
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