CoinDesk Podcast Network Senate Democrats Question Binance's Ties with Team Trump | CoinDesk Daily
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Sep 19, 2025 Senate Democrats, led by Elizabeth Warren, grill officials about Binance's possible cozy relationship with the Trump administration. Speculation runs wild as Binance's BNB token soars past $1,000. Meanwhile, ARK Invest diversifies with a stake in a Solana-based startup, and Michigan considers investing a portion of its state reserves in Bitcoin. The future of cryptocurrency continues to unfold with political, institutional, and market dynamics at play.
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Binance Enforcement And Political Scrutiny
- Senate Democrats raised concerns that Binance may be negotiating to remove its independent compliance monitor from a $4.3 billion U.S. enforcement action.
- The letter linked Binance to President Donald Trump and his family's stake in World Liberty Financial, raising political scrutiny.
BNB Spike Reflects Legal Speculation
- BNB token spiked above $1,000 as markets speculated about CZ's potential return and eased enforcement optics.
- The token later pulled back to about $990, showing volatile market reactions to legal and political news.
ARK Invest Bets On Tokenized Treasury
- ARK Invest bought nearly $162 million in Soulmate after joining a $300 million funding round to build a Solana-based digital asset treasury.
- The move signals institutional appetite for crypto-linked corporate treasuries and token-backed strategies.