Former Binance CEO Changpeng “CZ” Zhao is contemplating a libel lawsuit against Massachusetts Senator Elizabeth Warren after she made statements suggesting Zhao bribed U.S. President Donald Trump for a pardon.

According to reports from the New York Post, Zhao, through his lawyer Teresa Goody Guillén, indicated he may pursue legal action unless Warren retracts her assertions made in a social media post on October 23. The post claimed that Zhao pled guilty to a money laundering charge, which led to a prison sentence.

Zhao clarified that he only pled guilty to a charge regarding his firm’s failure to enforce an effective anti-money laundering program and maintained his innocence regarding the bribery allegations.

Warren’s claims also included comments about Zhao financing Trump’s stablecoin as a corrupt act. Zhao retorted that there were no such charges against him.

The situation remains under scrutiny, as Zhao’s legal representatives continue to demand a retraction of Warren’s statements.