#news
🚨 CZ vs. Bloomberg: A New Round in the $USD1 War!
A week ago, Bloomberg published an investigation alleging that Binance allegedly:
• wrote the underlying code for the USD1 stablecoin — issued by World Liberty Financial, a company linked to the Trump family
• promoted USD1 to 275 million users, allowing UAE investors to make $2 billion in investments in Binance
• holds over 90% of all USD1 tokens in its wallets, potentially earning the Trump family “tens of millions of dollars” annually  
In response, Binance co-founder and former CEO Changpeng “CZ” Zhao called the article “another hit piece sponsored by a competitor,” with “several factual errors that I don’t even know where to start,” and stated:
“Might have to sue them again for defamation.”
CZ hinted at the possibility of a new lawsuit against Bloomberg — after the Chinese version of Bloomberg issued a public apology for the false accusations in July 2024, calling them “baseless”.
This dispute caused a significant resonance in the crypto community. Reddit is not short of sarcasm:
“Binance allegedly wrote the smart contract code for USD1… The Trump family could earn $30million annually from interest on reserves backing the stablecoin.”
🔍 In parallel, a political front is unfolding in the US: bills such as the GENIUS Act, which regulates stablecoins, are being considered and directly affect the interests of Trump, Binance, and CZ.