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US Senators Request Investigation into Binance-Trump Ties by Treasury and Justice Departments
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- US Senators have reportedly requested an investigation into the relationship between Binance and the Trump family's virtual asset projects by the Treasury and Justice Departments.
- Senators highlighted compliance risks due to MXG investment firm's $2 billion investment in Binance through the Trump family's stablecoin USD1.
- Binance admitted to charges of violating the Anti-Money Laundering Act and agreed to withdraw from the US market and pay a $4.3 billion fine.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Multiple US Senators have reportedly requested an investigation into the relationship between Binance and the Trump family's virtual asset (cryptocurrency) projects through a letter to the Treasury Secretary and the Attorney General.
According to Bloomberg News on the 9th (local time), Senators including Elizabeth Warren pointed out that in March this year, Abu Dhabi investment firm MXG invested $2 billion in Binance through the Trump family's World Liberty Financial (WLFI) stablecoin USD1, raising concerns about compliance risks.
They are requesting the Treasury and Justice Departments to submit a response by May 21st (local time) regarding the progress of Binance's plea bargain implementation, the schedule for Binance's withdrawal from the US market, and whether there are discussions about pardoning Binance founder Changpeng Zhao.
Previously, Binance admitted to charges of violating the Anti-Money Laundering Act, the Bank Secrecy Act, and the International Emergency Economic Powers Act, and agreed to a total fine of $4.3 billion, withdrawal from the US market, and the resignation of CEO Changpeng Zhao.
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