This resolution condemns President Trump's pardon of Binance founder Changpeng Zhao for violating anti-money laundering laws and calls on Congress to prevent such corruption.
Elizabeth Warren
Senator
MA
This resolution formally condemns President Trump's pardon of Binance founder Changpeng Zhao, who previously pleaded guilty to violating U.S. anti-money laundering laws. The measure expresses strong disapproval of the pardon, citing potential conflicts of interest related to the Trump family's financial dealings with Binance. Finally, it calls upon Congress to utilize its authority to prevent similar acts of corruption in the pardon process moving forward.
Senate Condemns Trump's Pardon of Binance CEO Zhao, Citing $2 Billion Crypto Deal Conflict
This resolution is the Senate’s official way of saying, “We strongly disapprove,” concerning President Trump’s decision to pardon Changpeng Zhao (CZ), the founder of the cryptocurrency exchange Binance. The core of the matter isn't just the pardon itself, but the timing and the alleged financial connections that the Senate claims led up to it. Zhao had previously admitted back in 2023 that he willfully failed to maintain effective anti-money laundering (AML) programs at Binance, which led to the company paying a massive $4.3 billion penalty. This resolution lays out a timeline suggesting the pardon, granted in October 2025, was influenced by significant financial dealings involving the President’s family business and Binance.
The Fine Print vs. The Financial Twist
For those of us who follow financial news, the initial conviction was a big win for law enforcement, showing that even massive crypto firms aren't above U.S. AML laws. But the resolution details a sequence of events that throws shade on the pardon. First, in March 2025, reports surfaced that representatives for the President's family were looking to buy a stake in Binance’s U.S. operations. Then, in May 2025, an investment firm from the UAE used $2 billion worth of USD1—a stablecoin issued by the Trump family’s crypto company, World Liberty Financial—to buy a stake in Binance. To put that in perspective, that’s a massive chunk of change moved through the President's family's crypto product just before the pardon.
The Cost of Undermining the Rule of Law
When the President granted CZ a full pardon on October 23, 2025, the resolution notes that the value of the Trump family’s company, World Liberty Financial, shot up significantly just hours later. This isn't just political drama; it hits the core of how financial laws are enforced. If a massive financial crime that required a $4.3 billion corporate penalty can be wiped clean via a pardon that appears tied to a multi-billion dollar deal benefiting the pardoner’s family, it sends a clear message to every regulator and compliance officer: the rules might not matter if you have the right connections. For anyone who has to deal with the headache of AML compliance—from small banks to tech startups—this situation undermines the entire system.
Congress is Asked to Step In
The resolution doesn't stop at just condemning the action; it calls on Congress to use its authority to stop this kind of corruption in the pardon process from happening again. This is the legislative branch trying to assert oversight over the executive's clemency power, specifically when it involves major financial crimes and apparent conflicts of interest. While a resolution like this doesn't change the law, it's a formal statement of intent. It puts Congress on the record as being concerned about the integrity of the justice system and suggests that lawmakers might look into ways to limit the President's ability to issue pardons in cases where there is a clear financial benefit to their family or business interests.