Binance founder Changpeng Zhao, aka CZ, on Wednesday confirmed reports of defamation lawsuit plans against anti-crypto Senator Elizabeth Warren. This comes following false money laundering remarks against CZ by Senator Warren and leading Senate Democrats to condemn Donald Trump’s pardoning of the Binance founder.
On October 29, Binance founder CZ took on the X platform and shared a post about filing a defamation lawsuit against anti-crypto US Senator Elizabeth Warren if she does not retract her “false statements.”
Elizabeth Warren, the lead Democrat on the Senate Banking Committee, is among the critics of Trump’s crypto policies through the White House and business ties to the $4 trillion crypto industry.
Immediately after Trump’s pardon of Changpeng Zhao last Thursday, she posted on X: “CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stable coin and lobbied for a pardon. Today, he got it. If Congress does not stop this kind of corruption, it owns it.”
Binance and CZ hired former SEC attorney Teresa Goody Guillen. This move followed Trump pardoning CZ and high-profile lobbying. According to a NY Post report, she is preparing a letter calling for Warren to retract the public statements on social media. If she ignores, Goody Guillen said Zhao will file a defamation lawsuit against the senator.
Changpeng Zhao slammed Senator Warren for misrepresenting facts about the Binance case, stating that there were “no money laundering charges” against him. CZ asserted that the lawmaker publicly made inaccurate claims about his legal proceedings.
Trump pardoned CZ because the Biden administration weaponized the DOJ and made him plead guilty to the Bank Secrecy Act. Binance founder claimed that people, such as Gary Gensler, Elizabeth Warren, and Maxine Waters, who are aggressive against him were all Sam Bankman-Fried supporters.
CZ highlighted that the same Senator had publicly declared “war on crypto” shortly before his sentencing under the Biden administration. Experts such as social media strategist Chuck Callesto pointed out that the speech and debate clauses don’t apply to social media.
Democrats Warren, Adam Schiff, and Jeff Merkley urged their Senate peers to push for a vote on condemning President Trump for pardoning Changpeng Zhao, according to a Senate Banking Committee press release on Tuesday. The announcement highlighted Trump family-backed World Liberty Financial’s USD1 stablecoin used in Binance deal worth $2 billion.
Moreover, Democrats are pushing for a bill to ban elected officials in the United States from owning or creating cryptocurrencies and trading stocks. This also comes following Trump’s pardon of CZ.
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