Connecticut Senator Chris Murphy has accused crypto exchange Binance of facilitating corrupt deals in exchange for a presidential pardon of its billionaire founder, Changpeng “CZ” Zhao.
“We aren’t dumb. Your company launched Trump’s corrupt crypto coin,” Senator Murphy tweeted on Friday. “You greased the wheels of the massively corrupt UAE ‘trade secrets for cash’ deal.” He continued, “You basically did whatever crooked thing Trump asked. And then, voila your billionaire owner gets a pardon! C’mon,” directly addressing the crypto exchange.
These comments came a week after the White House confirmed that President Donald Trump had pardoned CZ, who served four months in federal prison in 2024 after pleading guilty to violating U.S. anti-money laundering laws. The pardon, which the administration touted as ending the “Biden Administration’s war on crypto,” has triggered a political uproar in Washington.
### ‘Full-time Corruption Machine’
Senator Murphy has posted a series of critical tweets since the pardon, with the attacks intensifying after Binance US announced on Tuesday that it would list USD1, a stablecoin issued by Trump’s World Liberty Financial project.
“One week after Trump pardoned Binance’s owner (for a stunning array of crimes related to terrorist and sex predator financing), Binance starts promoting Trump crypto,” Murphy tweeted. “The White House is a full-time, 24/7 corruption machine.”
In response, Binance US stated that it conducts “comprehensive due diligence” before listings, noting that USD1 already trades on over 20 exchanges. The company called Murphy’s claims an unfair politicization of routine business.
### Industry Reactions
Kadan Stadelmann, Chief Technology Officer at Komodo Platform, told Decrypt that Murphy is “trying to defend a flailing system losing its grip on money and financial surveillance,” noting the market has clearly adopted WLFI due to its listing on major exchanges including Binance US.
“Washington D.C. is akin to a soap opera where Democrats and Republicans lob accusations of corruption at each other, when both are guilty,” Stadelmann commented. He added, “Why doesn’t Murphy rally against AML failures at big banks? Because what he is doing is political opportunism. All of this is the reason for DeFi.”
### Democrats Denounce CZ Pardon
Democrats have also highlighted Binance’s growing ties to Trump’s crypto ventures, notably a $2 billion MGX investment in USD1, which generates $60-80 million annually for World Liberty Financial and $1 billion for the Trump family.
Ranking Member Maxine Waters called Trump’s pardon “an appalling but unsurprising reflection of his presidency.” Meanwhile, Representative Ro Khanna announced legislation to ban elected officials from owning or creating cryptocurrencies in response to the controversy.
The pardon and Binance’s subsequent moves continue to fuel a heated debate over corruption, cryptocurrency regulation, and the influence of political power in the rapidly evolving crypto landscape.
https://decrypt.co/346944/connecticut-senator-says-binance-greased-the-wheels-for-trumps-crypto-deals