Warren and Schiff Condemn Trump Pardon of Binance Founder

US Senators Elizabeth Warren and Adam Schiff are planning to introduce a resolution that condemns President Donald Trump's pardon of Binance founder Changpeng 'CZ' Zhao.

The pardon has been met with criticism from Democrats due to Zhao's past guilty plea for failing to prevent money laundering on Binance, as well as his business ties to the Trump family's crypto firm, World Liberty Financial. In 2023, Zhao pled guilty to violating US anti-money laundering laws after the Treasury Department found that Binance failed to block transactions associated with ISIS, Al Qaeda, Hamas, and other blacklisted groups.

Warren and Schiff have expressed concerns over the close business relationship between Zhao and the Trump family. They pointed out that President Trump's announcement of pardoning Zhao was followed by a surge in value for World Liberty's native token, WLFI, which increased by over 15% in value after the revelation of the pardon.

Although the resolution is unlikely to pass through the Senate due to Republican control, Warren and Schiff hope to pass it through unanimous consent. This would mean that only one Republican senator's protest could prevent the measure from receiving a full vote.