Anndy Lian
Coinbase, allegations targeting Trump and Binance spread... signs of 'information warfare' in the industry
Amid the Bloomberg exclusive report that shook the cryptocurrency industry, Coinbase ($COIN) has been pointed out as the suspected mastermind behind the allegations targeting both President Trump and Binance, intensifying the controversy. The controversy began when famous cryptocurrency commentator Matt Wallace posted on social media that Coinbase provided internal information to Bloomberg, and former Binance CEO Changpeng Zhao (CZ) also retweeted the post, drawing more attention.
Wallace claimed, "Coinbase feared Binance's re-entry into the U.S. market and tried to undermine President Trump's cryptocurrency project and Binance," calling it 'anti-American behavior.' According to this claim, the possibility of a political deal emerged as Changpeng Zhao requested a pardon from Trump, which Bloomberg reported as an exclusive news story. The report indicated that President Trump was involved with Binance in the background of the stablecoin USD1 issued by cryptocurrency issuer World Liberty Financial and mentioned that a significant amount of USD1 tokens is still stored in Binance wallets.
However, Coinbase strongly refuted these claims. Paul Grewal, Coinbase's Chief Legal Officer, dismissed the allegations as "entirely false" on his X (formerly Twitter) account, stating that they had never provided any statements to Bloomberg. He further clarified that they do not attack competitors and only wish for the growth of the entire cryptocurrency ecosystem, distancing themselves from conspiracy theories.
Separately, cryptocurrency industry advisor Anndy Lian also raised questions about the credibility of the Bloomberg report. He evaluated that the reporting based on anonymous sources exploited a political incident without any material evidence and pointed out that there is no clear evidence of policy ties between Binance and President Trump. Lian added that Binance's activities related to USD1 fall within the scope of industry practices.
Former Binance CEO Changpeng Zhao has refrained from public appearances since resigning from his position after a settlement with U.S. authorities last year. However, in May, he drew attention again by confirming that he had submitted an official pardon request to President Trump. He mentioned himself as the only case of a guilty verdict for violating the BSA (Bank Secrecy Act), clearly stating that there would be no return to Binance management.
Source: https://www.tokenpost.kr/news/cryptocurrency/266864
The post Coinbase, allegations targeting Trump and Binance spread... signs of 'information warfare' in the industry appeared first on Anndy Lian by Anndy Lian.
