BinanceTurns8

$BNB

Binance co-founder and former CEO Changpeng “CZ” Zhao has reposted a tweet alleging that Coinbase was the “anonymous” source behind Bloomberg’s report targeting Trump’s crypto project, World Liberty Financial, and Binance.

Bloomberg’s report alleged that Binance developed the smart contract for USD1, a stablecoin issued by World Liberty Financial, linked to former President Donald Trump.

The report also claimed Zhao applied for a presidential pardon shortly after USD1 was used in a $2 billion deal involving a UAE fund’s investment in Binance. It noted that over 90% of USD1 tokens remain in Binance wallets, potentially generating tens of millions in annual interest revenue.

In a Sunday post on X, crypto commentator Matt Wallace claimed Coinbase executives feared a potential pardon for Zhao and Binance’s return to the US market would threaten their market share, prompting efforts to undermine competitors.

Binance is the world’s no1 crypto exchange,” Wallace wrote, warning that Binance’s return with full legal status could severely damage Coinbase’s business.