Sen. Warren and colleagues press for information into Trump admin's meetings with Binance

U.S. Senator Elizabeth Warren (D-Mass.) and several congressional colleagues are pressing President Trump’s administration for more information regarding its interactions with Binance, the world’s largest crypto exchange.

On Tuesday, reports surfaced that Binance is close to inking a deal with the U.S. Justice Department that would allow it to drop its court-mandated compliance officer.

According to a letter sent to Attorney General Pam Bondi on Thursday, Warren, along with Senators Mazie Hirono (D-Hawaii) and Richard Blumenthal (D-Conn.), are seeking info regarding Binance’s compliance obligations in the U.S.

Binance previously agreed to be overseen by two independent compliance officers appointed by the Department of Treasury and Department of Justice, as part of a guilty plea in 2023 related to money-laundering and sanctions violations.

The Senators first inquired about Binance’s ongoing conversations with federal cabinet officials as early as May. Specifically, they inquired about Binance’s pending exit from the U.S., its regulatory obligations, and what the DOJ was doing to ensure the exchange’s compliance.

They also asked about the possibility of a presidential pardon for former Binance CEO Changpeng Zhao, who was forced to step down from his role as chief executive as part of his guilty plea.

"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," the Senators wrote.

Blumenthal, Hirono, and Warren argued that the DOJ did not adequately address their earlier inquiry and are requesting updated responses by Oct. 1.

The Senators noted that while the DOJ reportedly asserted that "Binance has paid all the penalties due to the Department" and “has ongoing requirements under the terms of its plea agreement,” the agency did not "confirm whether or not Binance was, in fact, complying with these ‘ongoing requirements.'"

Warren is a ranking member of the Senate Banking, Housing, and Urban Affairs Committee.