A group of US Democratic senators, including Maryland Senators Chris Van Hollen and Massachusetts Senators Elizabeth Warren, sent a joint letter to the Treasury and Attorney General demanding an investigation into Binance's links to the Trump family's digital asset project. The letter noted that Abu Dhabi investment firm MXG completed a $2 billion investment in Binance in March through the Trump family-controlled USD1 stablecoin, raising concerns about compliance risks. Binance pleaded guilty to anti-money laundering violations in 2023, and its former CEO Changpeng Zhao has served four months in prison. Senate Democrats suspended passage of the stablecoin bill on May 9, citing provisions that "prevent incumbent officials from profiting from crypto projects." The letter asked the Treasury and Justice Departments to provide by May 21 a three-pronged explanation of Binance's progress in fulfilling its plea agreement, a timeline for exiting the US market, and whether a pardon for Zhao Changpeng had been discussed. According to the Wall Street Journal, representatives of the Trump family had consulted about the investment Binance.US (which Zhao has previously denied). "The idea that this administration may allow Binance to continue operating and expanding in the US is deeply troubling, especially given the company's repeated disregard for federal laws and regulations that keep Americans safe," the letter said.