Warren, Hirono, Blumenthal Press DOJ on Trump Administration’s Binance Ties and Reported Plan to Drop Key Safeguards in Company’s $4.3 Billion Settlement and Plea Agreement

Warren, Hirono, Blumenthal Press DOJ on Trump Administration's Binance Ties and Reported Plan to Drop Key Safeguards in Company's $4.3 Billion Settlement and Plea Agreement

"Since May, President Trump and his family have increased their financial ties to Binance through their company, 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."

Text of Letter (PDF)

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, Mazie Hirono (D-Hawaii), and Richard Blumenthal (D-Conn.), sent a letter to Attorney General Pam Bondi requesting more information regarding the Trump Administration's oversight of cryptocurrency exchange Binance's legal obligation to exit the U.S. market, following its 2023 guilty plea and settlement of serious federal charges including money laundering and violations of U.S. sanctions laws.

In May, the lawmakers raised concerns about reported meetings between Binance executives and Trump administration officials and pressed the Department of Treasury and Department of Justice (DOJ) for details about Binance's compliance obligations, its timeline for exiting the U.S. market, and whether the company sought a pardon for its former CEO. DOJ's September response failed to address those questions directly and did not confirm whether Binance is complying with ongoing settlement requirements.

"Notably, this response did not confirm whether or not Binance was, in fact, complying with these 'ongoing requirements,'" wrote the Senators. "The response then concluded, failing to meaningfully answer any of our questions."

The Senators continued: "Since May, President Trump and his family have increased their financial ties to Binance through their company, World Liberty Financial, and just this week, news broke that Binance may be 'moving toward a potential deal with the US Justice Department that would allow it to drop' its outside compliance monitor-a 'key oversight requirement in its $4.3 billion settlement' with the federal government. 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."

Amid new reporting that Binance is in talks with DOJ to eliminate that key independent oversight, the Senators requested meaningful answers from the agency by October 1, 2025.

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