Murphy accuses Binance.US of promoting Trump-linked USD1 stablecoin

Connecticut Senator Chris Murphy on Tuesday accused Binance.US of promoting a stablecoin tied to the Trump family’s crypto venture just days after President Donald Trump granted a pardon to Binance founder Changpeng Zhao, a move that has intensified scrutiny of political and financial ties surrounding the crypto industry. The dispute centers on Binance.US’s announcement on Oct. 29 that it would accept deposits and begin trading for USD1, a stablecoin issued by World Liberty Financial, which is linked to business interests associated with the president’s family.

Murphy reacted to Binance.US’s social post by saying the listing came “one week after Trump pardoned Binance’s owner” and criticized the White House’s role, remarks that added to a growing call from lawmakers for closer examination of the pardon. Seven senators have since asked federal authorities to investigate the circumstances of Zhao’s pardon, arguing it raises questions about whether political actions and financial incentives are intertwined in ways that could undermine accountability.

Binance.US responded on the same social platform, saying the listing followed its standard procedures. “We conduct comprehensive due...