Eleven Senate Banking Democrats, including prominent figures such as Elizabeth Warren and Mark Warner, have called on the Department of Justice and the Treasury to investigate Binance. The lawmakers' letter highlights media reports suggesting illicit financial activities linked to Iran and warns that Binance may be violating its 2023 settlement agreement, which mandated comprehensive compliance reforms under U.S. oversight. The senators also expressed concerns over Binance's expanding business connections with President Trump's cryptocurrency ventures and his pardon of Binance founder Changpeng Zhao. They are urging a thorough and impartial investigation into these matters to ensure compliance and transparency.