Hirono, Colleagues Press DOJ on Trump Administration’s Binance Ties and Reported Plan to Drop Key Safeguards in Company’s $4.3 Billion Settlement and Plea Agreement

Senators: "Since May, President Trump and his family have increased their financial ties to Binance through their company, World Liberty Financial… These reports make it more important than ever that the public understand the Trump Administration's interactions with, and relationship to, Binance and its employees."

WASHINGTON, D.C. - U.S. Senator Mazie K. Hirono (D-HI) joined Senators Richard Blumenthal (D-CT) and Elizabeth Warren (D-MA) in sending a letter to Attorney General Pam Bondi requesting more information regarding the Trump Administration's oversight of cryptocurrency exchange Binance's legal obligation to exit the U.S. market, following its 2023 guilty plea and settlement of serious federal charges including money laundering and violations of U.S. sanctions laws.

In May, the lawmakers raised concerns about reported meetings between Binance executives and Trump administration officials and pressed the Department of Treasury and Department of Justice (DOJ) for details about Binance's compliance obligations, its timeline for exiting the U.S. market, and whether the company sought a pardon for its former CEO. The DOJ's September response failed to address those questions directly and did not confirm whether Binance is complying with ongoing settlement requirements.

"Notably, this response did not confirm whether or not Binance was, in fact, complying with these 'ongoing requirements,'" wrote the Senators. "The response then concluded, failing to meaningfully answer any of our questions."

The Senators continued: "Since May, President Trump and his family have increased their financial ties to Binance through their company, World Liberty Financial, and just this week, news broke that Binance may be 'moving toward a potential deal with the US Justice Department that would allow it to drop' its outside compliance monitor-a 'key oversight requirement in its $4.3 billion settlement' with the federal government. These reports make it more important than ever that the public understand the Trump Administration's interactions with, and relationship to, Binance and its employees."

Amid new reporting that Binance is in talks with DOJ to eliminate that key independent oversight, the Senators requested meaningful answers from the agency by October 1, 2025.

The full text of the letter is available here and below.

Dear Attorney General Bondi:

On May 9, 2025, we wrote to you to express our concerns about reports of meetings between Binance executives and officials from the Treasury Department. We requested information from you regarding the Trump Administration's efforts to ensure Binance's compliance with its 2023 plea agreement with the federal government to address charges of money laundering, operating an unlicensed money transmitting business, violating U.S. sanctions laws, and failing to prevent and report suspicious transactions with terrorist groups.

Specifically, we asked:

1. What steps has the Department of Justice taken to maintain mandatory compliance with Binance as required by its plea agreements?
2. What is the status of Binance's pending exit from the United States? Please provide us with information related to the actions taken so far, and an updated timeline on when we can anticipate the company's complete exit from the country.
3. Has Binance raised the topic of a potential pardon for former CEO Changpeng Zhao with any Department of Justice officials? If so, what was the context of that conversation?
4. Has Binance raised the topic of World Liberty Financial or its interest in listing a new stablecoin on Binance with any Department of Justice officials? If so, what was the context of that conversation?

On September 12, 2025, the Department responded. After summarizing publicly available information about Binance's 2023 plea agreement, the response first stated that "Binance has paid all the penalties due to the Department." It then asserted that "Binance also has ongoing requirements under the terms of its plea agreement, including cooperating with the Department and remediation and enhancement of its compliance program." Notably, this response did not confirm whether or not Binance was, in fact, complying with these "ongoing requirements." The response then concluded, failing to meaningfully answer any of our questions.

Since May, President Trump and his family have increased their financial ties to Binance through their company, World Liberty Financial, and just this week, news broke that Binance may be "moving toward a potential deal with the US Justice Department that would allow it to drop" its outside compliance monitor-a "key oversight requirement in its $4.3 billion settlement" with the federal government. These reports make it more important than ever that the public understand the Trump Administration's interactions with, and relationship to, Binance and its employees. We therefore once again request meaningful answers to the questions above by no later than October 1, 2025.

Sincerely,

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