PANews reported on November 3 that, according to Punchbowl News, Senator Warren's lawyer responded on November 2, 2025, confirming that her statement on the X platform that Changpeng Zhao "pleaded guilty and was sentenced for money laundering" is true. The letter points out that Zhao pleaded guilty in 2023 to violating the U.S. Bank Secrecy Act, admitting to failing to establish an effective anti-money laundering mechanism, which constitutes a criminal offense. The letter emphasizes that the relevant plea agreement and Department of Justice press releases have been made public, and the defamation allegations are baseless.

According to a November 21, 2023 press release from the U.S. Department of Justice, Binance and its CEO Changpeng Zhao have pleaded guilty to federal charges including violating the Bank Secrecy Act, illegal money transfers, and sanctions violations, and agreed to pay over $4 billion in fines. This case marks the first time criminal charges have been brought against an executive of a major crypto company. The Warren team cited the announcement, stating that their statement regarding Zhao's "guilty plea for money laundering" is true and does not constitute defamation.