US senator questions USD1 launch on Binance.US following CZ pardon

Senator Chris Murphy alleged corruption over the exchange "promoting Trump crypto" shortly after the US president issued a pardon for Binance founder Changpeng Zhao.

Connecticut Senator Chris Murphy is calling out Binance.US, alleging the cryptocurrency exchange played a role in US President Donald Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.

In a Tuesday X post, Murphy responded to a social media post by Binance.US announcing the launch of trading for USD1, the stablecoin tied to the Trump family crypto company World Liberty Financial. According to the senator, the exchange was “promoting Trump crypto” just a week after the president “pardoned Binance’s owner,” referring to Zhao. 

Trump’s pardon of Zhao on Oct. 23 sparked debate across the crypto community and Congress. Although CZ said in May that he had applied for a presidential pardon, many questioned whether Trump or his family were responding to financial incentives, including an Abu Dhabi-based company investing $2 billion in Binance using the USD1 stablecoin.

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