An investigation has emerged suggesting that Coinbase may have been the "anonymous source" behind Bloomberg's article about Binance and the Trump-linked USD1 project.

According to one version, Coinbase fears the return of a major competitor to the U.S. market, which could threaten its market position. Reports indicate that rumors of a possible pardon for CZ have intensified internal panic at Coinbase.

CZ has already reposted the investigation and had previously vowed to sue Bloomberg — Coinbase has yet to respond.