Today in crypto, Democrat Representative Gerald Connolly has urged the US Treasury to halt any efforts for a US strategic crypto reserve, and Binance former CEO Changpeng “CZ” Zhao had denied Binance reached out to US President Donald Trump’s family in 2024 to help relaunch Binance.US or that he was seeking a pardon.
Democrat lawmaker urges Treasury to cease Trump’s Bitcoin reserve plans
A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States.
House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.
Rep: Gerald Connolly’s letter to US Treasury’s Scott Bessent. Source: