A resolution condemning President Trump's pardoning of Binance founder Changpeng Zhao, who had violated United States anti-money laundering laws, and calling for Congress to use its authority to stop this form of corruption.
This Senate resolution (S. Res. 466) formally condemns former President Trump’s pardon of Changpeng Zhao, the founder of cryptocurrency exchange Binance, who pleaded guilty in November 2023 to violating U.S. anti-money laundering (AML) laws. The resolution argues the pardon constitutes corruption due to alleged financial ties between Trump’s family and Binance, including reported negotiations for the Trump family to acquire a stake in Binance’s U.S. operations and a spike in value for the Trump family’s cryptocurrency company (World Liberty Financial) immediately after the pardon. While the resolution itself carries no legal force—it cannot reverse the pardon or change laws—it aims to politically pressure Congress to investigate and potentially use its constitutional authority (e.g., legislation or oversight) to prevent similar pardons it deems corrupt. Its primary impact is symbolic, seeking to frame the pardon as part of a pattern of self-dealing and weaken Trump’s political standing ahead of the 2026 midterms.
Key Points
- 1Condemns Trump’s October 23, 2025 pardon of Changpeng Zhao, who admitted guilt for failing to maintain an effective anti-money laundering program at Binance, enabling illicit funds to reach terrorists, foreign adversaries, and child abusers.
- 2Cites Binance’s $4.3 billion criminal penalty and Zhao’s April 2024 prison sentence to underscore the severity of the violations pardoned.
- 3Alleges corruption by linking the pardon to Trump family business interests, including a March 2025 Wall Street Journal report about Trump relatives negotiating a Binance stake and Zhao’s use of the Trump-linked stablecoin USD1 for a $2 billion Binance transaction in May 2025.
- 4Notes the immediate financial benefit to the Trump family: World Liberty Financial’s value spiked hours after the pardon was granted.
- 5Calls on Congress to "use its authority to stop this form of corruption," implying legislative or oversight actions (e.g., restricting presidential pardon powers for financial crimes involving officials’ personal interests).