Odaily News The Democratic Party of the U.S. Senate is pushing to pass a resolution formally condemning President Trump’s pardon of Binance founder Zhao Changpeng (CZ). Sources say that several Republican senators have also publicly criticized the decision, which may lead to a rare bipartisan opposition. Reports indicate that CZ was sentenced to 4 months in prison due to money laundering-related charges, and Trump’s pardon is seen as paving the way for Binance's return to the U.S. market. Senators leading the proposal include Elizabeth Warren (Massachusetts) and Adam Schiff (California), who called the move “naked corruption” and urged Congress to take measures to prevent similar situations from recurring. Analysts point out that this incident may affect the legislative process for crypto market structure that Congress is currently advancing. Previously, the Trump family’s crypto project World Liberty Financial announced support from the UAE sovereign fund, planning to complete a $2 billion investment in Binance through the stablecoin issued by the project. (Axios)
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The Democratic Party of the U.S. Senate plans to propose a resolution condemning Trump for pardoning CZ.
Odaily News The Democratic Party of the U.S. Senate is pushing to pass a resolution formally condemning President Trump’s pardon of Binance founder Zhao Changpeng (CZ). Sources say that several Republican senators have also publicly criticized the decision, which may lead to a rare bipartisan opposition. Reports indicate that CZ was sentenced to 4 months in prison due to money laundering-related charges, and Trump’s pardon is seen as paving the way for Binance's return to the U.S. market. Senators leading the proposal include Elizabeth Warren (Massachusetts) and Adam Schiff (California), who called the move “naked corruption” and urged Congress to take measures to prevent similar situations from recurring. Analysts point out that this incident may affect the legislative process for crypto market structure that Congress is currently advancing. Previously, the Trump family’s crypto project World Liberty Financial announced support from the UAE sovereign fund, planning to complete a $2 billion investment in Binance through the stablecoin issued by the project. (Axios)