Changpeng Zhao, co-founder of Binance, decided to sue Bloomberg for an article accusing him of being linked to a stablecoin associated with former U.S. President Donald Trump.
Binance's leadership strongly refuted the allegations, emphasizing many inaccuracies in the article and questioning the media's responsibility in the currently volatile digital finance sector.
MAIN CONTENT
Changpeng Zhao denies any connection with the USD1 stablecoin issued by a company linked to Trump.
This controversy occurs in the context of cryptocurrency bills being closely examined by the U.S. Congress.
The cryptocurrency community on social media supports the CEO of Binance against allegations from the press.
Mr. Zhao denies any connection to the Trump-linked stablecoin.
According to the CEO of Binance, Bloomberg's allegations that Binance created a Smart Contract for the stablecoin USD1 and holds most of this Token are false. He also denied information that he requested a presidential pardon following a $2 billion deal with the UAE fund. Previously, Bloomberg had to publicly apologize after publishing false news about Binance in 2022.
“The Bloomberg article contains so many inaccuracies that I don't know where to start.”
Changpeng Zhao, CEO of Binance, 11/7/2025
Information from Bloomberg states that over 90% of USD1 is still held in the Binance wallet, generating tens of millions of USD in annual returns, but Mr. Zhao denies this and says he will sue for defamation.
Why are Trump's cryptocurrency moves controversial in the United States?
U.S. lawmakers' interest in cryptocurrency projects linked to Donald Trump is increasing, such as stablecoin issuance companies and cryptocurrency fundraising methods. Several new bills, including the GENIUS Act, aimed at regulating stablecoin activities are being debated in the House, reflecting concerns about political and legal implications in this area.
“The bipartisan collaboration on the GENIUS Act demonstrates that cryptocurrency has become an important part of U.S. politics.”
Cryptocurrency legal expert, Washington DC, 2025
Mr. Zhao opposes the accusations from The Wall Street Journal
Previously, he publicly refuted the Wall Street Journal's report accusing him of agreeing to testify against the founder of Tron as part of a deal with U.S. authorities. He emphasized that he had completed a four-month prison sentence from 2023 and suspected that WSJ intentionally tarnished his reputation.
How does the cryptocurrency community support Changpeng Zhao?
After Mr. Zhao's response on social media X, the crypto community showed strong support. Many opinions suggest that traditional media is exerting unfair pressure on cryptocurrency leaders, questioning the objectivity of the press.
How might the next developments affect Zhao and Binance?
Mr. Zhao's lawsuit against Bloomberg is a step to protect his personal reputation and the Binance brand in a challenging legal environment. At the same time, increased attention to cryptocurrency projects involving political figures is raising tensions in the global digital finance market.
Frequently Asked Questions
What is Mr. Zhao doing to refute the allegations from Bloomberg?
Mr. Zhao publicly pointed out many inaccuracies in the article and has previously won a lawsuit against Bloomberg, currently considering a new defamation lawsuit.What is USD1 and how is it related to Trump?
USD1, issued by World Liberty Financial, a company linked to Trump, is accused by Bloomberg but lacks verified evidence from Binance.How does the GENIUS Act affect the cryptocurrency market?
This is a bill regulating stablecoin payments, reflecting the U.S. Congress's efforts to control and increase transparency in cryptocurrency activities.What is the cryptocurrency community's reaction to this incident?
What legal risks could Binance face from this lawsuit?
The lawsuit will clarify media responsibility, affecting Binance's reputation but the direct legal risks from unproven allegations remain unclear.
Source: https://tintucbitcoin.com/binance-cz-kien-bloomberg-vi-tin-sai/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!
