Binance Faces Investigation into Financial Controls

The U.S. Senate Democrats' call for an investigation into Binance's financial controls has sent shockwaves through the cryptocurrency market.

The request, made by several Democrats in a letter to the Treasury Department and the Department of Justice, highlights concerns about regulatory compliance in the crypto space.

Binance's native token, BNB, is likely to be affected by the investigation, with potential price swings and trading volume increases expected.