Seven Senate Democrats, led by Elizabeth Warren, have called for a federal probe into President Donald Trump's pardon of Binance founder Changpeng Zhao. The lawmakers question the pardon's legality amid concerns over potential financial ties between Zhao and Trump. They warn that the action could erode trust in law enforcement and encourage white-collar crimes.
On October 28, 2025, seven Senate Democrats, led by Sen. Elizabeth Warren (D-MA), sent a letter to Attorney General Pam Bondi and Treasury Secretary Scott Bessent demanding a federal investigation into President Donald Trump's recent pardon of Changpeng Zhao, the founder of cryptocurrency exchange Binance. Zhao had previously pleaded guilty in a major money laundering case.
The senators expressed deep concerns about the pardon's legality, arguing that it risks undermining confidence in federal law enforcement and could embolden future white-collar crimes. They highlighted possible financial connections between Zhao and Trump via the crypto firm World Liberty Financial, in which Trump reportedly retains an interest. These ties, the lawmakers suggested, may have influenced the decision.
In their letter, the Democrats urged the Department of Justice and the Treasury Department to provide a detailed response by November 4. The response should address whether the pardon was swayed by these financial links and explain any impacts on ongoing regulatory enforcement in the cryptocurrency sector. The inquiry stems from broader tensions around political influence in crypto regulation, though no immediate reply from the administration has been reported.
A press release from the House Committee on the Judiciary references the senators' actions, underscoring bipartisan worries about accountability in high-profile cases involving digital assets.