Connecticut Senator Says Binance 'Greased the Wheels' for Trump's Crypto Deals

Connecticut Senator Chris Murphy has accused Binance of facilitating corrupt deals tied to former President Donald Trump in exchange for a presidential pardon for founder Changpeng Zhao. Murphy alleged that Binance's recent listing of Trump's stablecoin, USD1, occurred shortly after Zhao received a pardon, which Murphy characterized as part of a corrupt scheme. He referred to the White House as a 'corruption machine' and criticized Binance for aiding Trump's endeavors, particularly in connection to a controversial deal involving the UAE. Following Zhao's pardon, which Murphy condemned as 'rewarding criminal behavior,' various Democrats, including Maxine Waters and Elizabeth Warren, have voiced their disapproval, claiming it reflects a troubling merging of business interests and politics. Binance responded by defending its business practices, emphasizing its compliance and due diligence. The controversy has ignited debates about ethics in political donations and cryptocurrency regulation, underscoring tensions between political figures and the crypto industry.

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