🎯 Binance caught in "secretly supporting Trump's stablecoin" – CZ responds strongly
Binance is accused by Bloomberg of supporting the stablecoin $USD1 of World Liberty Financial – a company backed by the Trump family: Binance programmed the smart contract, promoted widely, and facilitated the $2 billion deal with UAE investors, just before CZ Zhao sought a presidential pardon.
🛡️ CZ reacted fiercely:
On X, he called the news a "hit piece funded by rivals," containing "too many falsehoods" and threatened to sue Bloomberg for defamation.
A large portion of the token $USD1 (~90%) is still held in Binance's wallet – potentially generating annual profits of tens of millions of USD for Trump.
🔍 Implications & perspectives:
If the accusations are true, this could represent a conflict of interest, creating political-financial influence between Trump, Binance, and stablecoin policies in the US.
Sensitive context: CZ is seeking a pardon, Binance is trying to ease oversight in the US, and Trump has interests in stablecoin – making the market & regulatory bodies even more stringent.
📌 Recommendations:
Monitor subsequent responses from Bloomberg or investigative agencies – they could impact both Binance's operations and stablecoin policies.
Investors should be cautious with $USD1 and politically related stablecoins – transparency and legal risks remain significant concerns.
