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

Connecticut Senator Chris Murphy has accused cryptocurrency exchange Binance of facilitating corrupt dealings in exchange for a presidential pardon for its billionaire founder, Changpeng Zhao. Murphy highlighted allegations that Binance played a role in promoting Trump's USD1 stablecoin and its involvement in corrupt dealings linked to the UAE. Following the pardon of Zhao, who had pleaded guilty to illegal financial activities, Murphy claimed that Binance's partnership with Trump exemplified a larger pattern of corruption in the White House. Other Democrats, including Senators Elizabeth Warren and Maxine Waters, echoed concerns regarding the pardon and the intertwining of Trump's business dealings with influential crypto players. Binance responded by stating they conduct thorough due diligence before listings and characterized the accusations as politically motivated. As discussions continue in Congress around crypto regulations and corruption, the affair underscores the increasing scrutiny over the relationship between political figures and the growing blockchain industry.

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