Nikhilesh De | Adapted by CoinDesk
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What to Know
Democratic U.S. lawmakers, led by Senator Elizabeth Warren, have raised concerns over Binance’s ongoing enforcement order.
The senators sent a letter to Attorney General Pam Bondi seeking clarification on the situation.
The letter also highlighted President Donald Trump’s financial ties to Bi
nance.
Binance, the world’s largest crypto exchange, remains bound by a $4.3 billion U.S. enforcement order, but Senator Elizabeth Warren and fellow Democrats are pressing the Trump administration over reports of a potential easing of those restrictions.
In 2023, Binance — the world’s leading digital assets exchange — reached a $4.3 billion settlement with U.S. authorities over sanctions breaches, weak anti-money laundering controls, and operating without proper licensing. Its founder, Changpeng “CZ” Zhao, admitted guilt to Bank Secrecy Act violations, resigned as CEO, and served a short prison term.
Current Concerns
This week, Senators Elizabeth Warren, Richard Blumenthal, and Mazie Hirono sent a letter to Attorney General Pam Bondi, citing reports — including from Bloomberg — that Binance has engaged in talks with U.S. officials about removing its independent compliance monitor.
The senators highlighted ongoing financial links between the Trump family and Binance through World Liberty Financial. They urged the Department of Justice to provide “meaningful” clarity, including whether a pardon for CZ is under consideration.
BNB Token Surges Past $1,000 as Markets React
Amid speculation about CZ’s return, Binance’s BNB token soared past $1,000 for the first time, surpassing SOL and securing its place as the fifth-largest cryptocurrency by market capitalization.
Trump Administration’s Shift in U.S. Crypto Policy
The prosecution of Binance in the U.S. began under the previous administration. However, with President Trump’s return and his appointment of pro-crypto regulators, the government has pivoted toward promoting financial innovation and positioning the U.S. as a global crypto hub—overtaking earlier efforts focused on financial crime risks and illicit use of digital
assets.
Read More: BNB Reaches $1,000 Record High as Binance Edges Closer to DOJ Agreement and Speculation Mounts Over CZ’s Comeback
Congress Senator Elizabeth Warren
CZ (Changpeng Zhao) Binance Exchange
RCMP Confiscates $56M CAD in Cryptocurrency, Shuts Down TradeOgre in Canada’s Biggest Digital Asset Crackdown
By Margaux Nijkerk, AI Boost | Edited by Nikhilesh De
Authorities in the Eastern Region reported that the $56M CAD seizure came after a year-long investigation conducted by the Money Laundering Investigative Team (MLIT).
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● The Royal Canadian Mounted Police (RCMP) have carried out Canada’s largest-ever cryptocurrency seizure, confiscating over $56 million CAD in digital assets from the TradeOgre exchange.
● According to the RCMP, this action not only sets a record for the largest crypto seizure but also represents the first time Canadian authorities have shut down a cryptocurrency trading platform.
Click on the link for more details.
Is Binance Cutting Deals with Team Trump? That's What Senate Democrats Are Asking https://share.google/d1zQ8XRae3rP0CNwH
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