๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ'๐ ๐๐ญ ๐ ๐ฎ๐ ๐ฆ๐๐ฒ ๐๐น๐ผ๐ผ๐บ๐ฏ๐ฒ๐ฟ๐ด ๐ข๐๐ฒ๐ฟ ๐ง๐ฟ๐๐บ๐ฝ ๐ฆ๐๐ฎ๐ฏ๐น๐ฒ๐ฐ๐ผ๐ถ๐ป ๐๐น๐น๐ฒ๐ด๐ฎ๐๐ถ๐ผ๐ป๐
โ Former Binance CEO Changpeng โCZโ Zhao has strongly denied a Bloomberg report claiming he helped create USD1, a stablecoin tied to World Liberty Financial (WLF), which itself is linked to former US President Donald Trump.
๐ฌ Calling it a โhit piece sponsored by a competitor,โ CZ said the article had โso many factual errorsโ that he โmight have to sue them again for defamation.โ
๐ The Bloomberg piece alleged:
โ Binance developed the original smart contract code for USD1.
โ Zhao applied for a presidential pardon soon after USD1 was used in a $2B deal involving a UAE fundโs investment in Binance.
โ Over 90% of USD1 tokens still sit in Binance wallets, potentially generating tens of millions in yearly interest.
โ๏ธ Zhao reminded followers of his previous legal clash with Bloomberg, which ended in a public apology in July 2024 after Bloombergโs Chinese edition falsely called Binance a Ponzi scheme. Instead of paying damages, Bloomberg made a charity donation.
๐ฐ CZ also pushed back earlier this year against the Wall Street Journal, which claimed heโd agreed to provide evidence against Tron founder Justin Sun as part of a plea deal. Zhao dismissed that as paid smears, stressing that โpeople who become gov witnesses donโt go to prison.โ
๐ช Meanwhile, Trumpโs crypto connections keep drawing regulatory attention in Washington. Lawmakers are reviewing three major crypto bills, including the GENIUS Act, which passed the Senate and would tighten stablecoin oversight.
โก The controversy adds another chapter to CZโs turbulent post-CEO life โ including his four-month prison sentence in 2023 and his current bid for a Trump presidential pardon, which could clear his path back into crypto leadership roles in the US.