U.S. Senators representing both Democrats and Republicans are demanding that Binance and Binance.US provide a detailed accounting of their finances and efforts to maintain regulatory compliance, according to a letter signed by Senators Elizabeth Warren, Chris Van Hollen and Roger Marshall, Bloomberg News reported. “[What] little information about Binance’s finances is available to the public suggests that the exchange is a hotbed of illegal financial activity that has facilitated over $10 billion in payments to criminals and sanctions evaders,” the senators wrote in the letter, which was dated March 1. The letter, addressed to Binance.US President Brian Shroder and Binance Chief Executive Officer Changpeng “CZ” Zhao, cited recent Reuters reporting that cast doubt on the extent to which the two entities were really independent of each other. This line of questioning echoes a recent court filing from Texas officials related to the proposed Binance.US acquisition of the bankrupt crypto broker Voyager Digital. Binance and Binance.US have the same majority owner in Zhao, according to the details laid out in the Texas filing. The global entity had secret access to a bank account belonging to the US exchange, according the Reuters report.
