US Democratic senators have raised concerns about potential connections between cryptocurrency exchange Binance and ventures affiliated with former President Donald Trump. The senators, led by Chris Van Hollen and Elizabeth Warren, sent a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, outlining their worries regarding Binance’s ties to the Trump family. This comes after Senate Democrats blocked a crucial stablecoin bill, triggered by revelations of a Trump-owned company utilizing its USD1 digital token for a $2 billion investment in Binance via MGX, an Abu Dhabi-based investment firm, in March. A separate report revealed that the same firm contributed to a $100 billion artificial intelligence infrastructure fund launched by Trump shortly after his inauguration. Senator Sheldon Whitehouse and Richard Blumenthal joined the call for further investigation into these alleged ties. Notably, Binance’s former CEO Changpeng Zhao was convicted of violations and spent four months in prison in the US. Further concerns were raised as a group linked to the Trump family, World Liberty Financial, is reported to be in discussion with Binance, while the Wall Street Journal suggests that the Trump family might acquire a stake in Binance.US. The senators expressed alarm at the possibility of Binance, which admitted to violations and has had its plea agreement under scrutiny, continuing operations in the US without sufficient action. They requested the Treasury and Justice departments to provide updates on Binance’s compliance with their plea deal, clarify plans for exiting the US, timeline of that process, and inquire about potential discussions regarding a presidential pardon for Zhao, as well as any interaction related to World Liberty or its proposed stablecoin launch.