This Senate resolution was introduced on October 23, 2025, by Senator Elizabeth Warren and other senators. It condemns President Trump's pardon of Changpeng Zhao, the founder of Binance. The resolution lists facts from the text: Zhao pleaded guilty on November 21, 2023 to willfully failing to maintain an effective anti-money laundering program. Binance pleaded guilty to multiple criminal charges and paid more than $4,300,000,000. The resolution says Binance's failures allowed money to flow to terrorists, foreign adversaries, child abusers, and other criminals. Zhao was sentenced to prison on April 30, 2024. The resolution notes reports that representatives of the President's family were negotiating to buy a stake in Binance's U.S. arm, that Zhao applied for a pardon in April 2025, that a stablecoin called USD1 was used in May 2025 to buy a $2,000,000,000 stake in Binance, and that President Trump granted a full pardon to Zhao on October 23, 2025. The resolution condemns that pardon and calls on Congress to use its authority to stop this form of corruption.
The resolution is a formal statement from members of the Senate condemning the pardon. It calls on Congress to act to stop this form of corruption. The text expresses the Senate's view and urges congressional action as described in the resolution.
No publicly available information.
Supporters expect the resolution to mark official Senate condemnation of the pardon. The resolution highlights that Zhao and Binance pleaded guilty, that Binance paid large penalties, that criminal activity flowed through Binance, that Zhao was sentenced, and that there were business ties and financial moves involving the President's family and a stablecoin. Proponents view these facts as evidence of corruption and a reason for Congress to use its authority.
No publicly available information.