Democratic Senators Demand Probe of Binance’s $2 Billion Abu Dhabi Investment and Trump’s Crypto Ties, Citing Conflict and Policy Delays

U.S. Democratic senators have formally requested the Treasury Department and the Department of Justice to investigate potential connections between the cryptocurrency exchange Binance and digital asset ventures linked to former President Donald Trump. The senators raised concerns about a reported $1 funding source allegedly used to facilitate Abu Dhabi’s $2 billion investment in Binance. They also questioned the appropriateness of Binance’s ongoing operations within the United States. The inquiry reflects broader apprehensions about conflicts of interest involving Trump’s use of meme coins for personal profit, which some lawmakers describe as corruption. Senate Democrats have introduced legislation aimed at prohibiting government officials, including the President and members of Congress, from participating in crypto schemes they consider corrupt. These developments have contributed to delays in advancing comprehensive cryptocurrency policy in Congress.