US lawmakers question DOJ's Binance settlement, citing Trump family ties

A group of U.S. lawmakers is demanding more information from the Department of Justice regarding a pending agreement to lift compliance monitoring obligations for Binance, The Block reported. In a letter to the DOJ, the lawmakers, including long-time crypto industry critic Senator Elizabeth Warren, pointed out that the department has not properly verified Binance's claims that it has paid its settlement fine and is complying with all requirements. They also raised suspicions about the timing of the DOJ's action, noting that Binance has been developing financial ties with World Liberty Financial (WLFI), a DeFi project linked to the Trump family. The lawmakers stated that they had already submitted questions about Binance to the DOJ in May without receiving an adequate response and have now requested an updated answer by Oct. 1.