Former Binance CEO Changpeng Zhao is pushing back against statements made by Sen. Elizabeth Warren following his pardon by President Donald Trump, and his lawyer is calling for an “immediate retraction.”
Zhao’s lawyer, Teresa Goody Guillén, sent a letter to the top Democrat on the Senate Banking Committee this week, requesting a retraction and the reversal of statements made in a recently filed resolution. Earlier this week, Fox News’ Charles Gasparino reported that Zhao is weighing whether to bring a libel suit against Warren.
“Mr. Zhao will not remain silent while a United States Senator seemingly misuses the office to repeatedly publish defamatory statements that impugn his reputation and cause him further injury,” Goody Guillén said in the letter obtained by The Block.
Last week, Trump pardoned Zhao after he pleaded guilty in 2023 to failing to maintain an “effective anti-money laundering program.” He was also fined $50 million, while Binance agreed to pay $4.3 billion as part of one of the largest corporate settlements on record. Zhao was released from prison last year.
Shortly after the pardon, Warren posted on X criticizing the president’s move and said that Zhao pleaded guilty to a criminal money laundering charge. Sens. Warren Adam Schiff then circulated a resolution urging Congress to block “this blatant corruption.”
Although Zhao has denied a report from The Wall Street Journal, which stated the crypto billionaire had lobbied the Trump administration for a pardon, ties between the Trump-backed DeFi project World Liberty Financial and Binance have raised questions. WLF had reportedly held talks about buying a stake in Binance.
About six weeks after news surfaced about talks between Trump’s team and Binance, the Abu Dhabi investment firm MGX said it would use World Liberty’s USD1 stablecoin to close a $2 billion deal with Binance.
In a Dear Colleague letter obtained by The Block, Warren said Trump was abusing the Oval Office and said the Trump family has become richer since the start of the administration.
“Your insinuation that MGX’s equity purchase in Binance, whereby the consideration was a U.S. dollar-backed stablecoin issued by World Liberty Financial, somehow ‘enriched’ President Trump and his family is factually and economically unsound,” Goody Guillén said in the letter.
“If holding USD1 constitutes unlawful enrichment, then every exchange listing that token would be guilty of the same offense,” she added. “You do not allege that because you cannot.”
Goody Guillén was a litigation counsel for the Securities and Exchange Commission and was previously a top contender to lead the agency. She is now a partner at Baker & Hostetler LLP.
Warren’s team did not respond to a request for comment on the letter.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
