Connecticut Senator Chris Murphy has publicly questioned the timing and motives behind Binance.US’s recent launch of the USD1 stablecoin tied to the Trump family’s World Liberty Financial. His concerns come shortly after former Binance CEO Changpeng “CZ” Zhao received a presidential pardon from Donald Trump. Murphy accused the exchange of “promoting Trump crypto” just a week after the pardon, suggesting possible corruption. The pardon itself, granted on October 23, ignited controversy across both crypto circles and Capitol Hill, with skepticism around whether it was influenced by financial interests, including a large USD1-backed investment in Binance. Binance.US responded by emphasizing its thorough due diligence and asserting the listing was purely a business decision, distancing itself from political implications. As scrutiny mounts, lawmakers from both chambers of Congress are pushing for investigations into CZ’s pardon and proposing legislation to curb potential conflicts of interest involving crypto trading by public officials.
