119-sres466

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 466 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
S. RES. 466

 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.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 October 23, 2025

 Ms. Warren (for herself and Mr. Schiff) submitted the following 
 resolution; which was referred to the Committee on the Judiciary

_______________________________________________________________________

 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.

Whereas, on November 21, 2023, Changpeng Zhao (known as ``CZ'' and referred to 
 in this resolution as ``Zhao'') pleaded guilty to willfully failing to 
 maintain an effective anti-money laundering program while CEO of 
 Binance;
Whereas Binance itself pleaded guilty to multiple criminal charges and was 
 required to pay a total financial penalty of more than $4,300,000,000;
Whereas Binance's willful failures allowed money to flow to terrorists, foreign 
 adversaries, child abusers, and other criminals;
Whereas, on April 30, 2024, Zhao was sentenced to prison time for his crime;
Whereas, on March 13, 2025, the Wall Street Journal reported that 
 representatives of President Trump's family were in negotiations to 
 purchase a financial stake in the United States arm of Binance, of which 
 Zhao remains the largest shareholder;
Whereas, in April 2025, Zhao formally applied to President Trump for a pardon;
Whereas, in May 2025, Zhao was involved in the most significant use to date of 
 USD1, a stablecoin issued by the Trump family's cryptocurrency company, 
 World Liberty Financial, when a United Arab Emirates investment firm 
 called MGX used USD1 to purchase a $2,000,000,000 stake in Binance;
Whereas, on October 23, 2025, President Trump granted a full pardon to Zhao for 
 his crime; and
Whereas, hours following the President's pardon, the value of the Trump family's 
 cryptocurrency company, World Liberty Financial, spiked: Now, therefore, 
 be it
 Resolved, That the Senate--

    (1) strongly condemns and denounces President Trump's 
 pardoning of Binance founder Changpeng Zhao for violating 
 United States anti-money laundering laws; and

    (2) calls on Congress to use its authority to stop this 
 form of corruption.
 <all>