Cryptocurrency exchange arm Binance.US has posted an official response to allegations by U.S. Senator Chris Murphy that the firm is deliberately promoting Trump crypto after business tycoon Changpeng Zhao was granted an official pardon.
The Connecticut senator, who is also the deputy secretary of the Democratic Senate Caucus, called the White House a “full-time 24/7 corruption machine.”
Murphy is referring to Binance.US’s listing on Wednesday of the WLFI token and USD1, the latter of which is the 6th largest stablecoin by market capitalization, according to CoinGecko.
Binance.US has shot back with its own reply to the senator’s allegations, saying that the organization conducts thorough due diligence before listing any token on its platform.
The official pardon came from Donald Trump a week ago, giving the founder relief from charges of enabling money laundering on Binance, a crime for which he was given a 4-month prison sentence in 2024. Documents show that prior to the pardon, Changpeng Zhao had paid $450,000 in fees to lobbying group Checkmate Government Relations over a period of one month.
The WLD1 token and USD1 stablecoin are cryptocurrency products of World Liberty Financial, a firm in which the Trump family has a significant stake and is managed by Eric Trump and Donald Trump Jr.