based on materials from the site - By Cryptocurrency Press
Changpeng Zhao, the former CEO of Binance, has threatened to sue Bloomberg following a report linking Binance to a Trump-backed stablecoin.
Zhao's possible response highlights the growing tension between major media outlets and leaders in the cryptocurrency industry, which could impact Binance's market position.
Accusations and Zhao's response
The dispute began after Bloomberg connected Binance to the development of the USD1 stablecoin, claiming ties to President Donald Trump. Zhao denies any involvement, calling the report a "baseless article" and expressing concerns about defamation.
"Another baseless article (sponsored by a competitor) with so many factual errors that I don't even know where to start. I might have to sue them again for defamation." The Bloomberg article further claimed that Binance owns a majority of the USD1 tokens, which could potentially yield significant revenue, and mentioned a $2 billion investment deal linked to Binance. These claims have not been substantiated by primary sources.
These claims have yet to noticeably impact cryptocurrency prices. Binance Coin (BNB) may be vulnerable due to past instances where scrutiny from lawyers or the media led to market reactions, though such cases remain unverified.
Disputes related to stablecoins could lead to increased scrutiny from financial regulators. Similar disputes in the past have already resulted in regulatory actions or market corrections, with Binance and industry observers closely monitoring developments.
Cryptocurrency communities have mixed reactions to the accusations: some defend Binance against what they consider misleading journalism. However, some groups are skeptical, recalling past disputes where media and regulatory scrutiny affected the exchange's reputation.
The ongoing discussion highlights the potential escalation of legal issues in the cryptocurrency space. The legal implications and market reactions remain uncertain, and Zhao's statements suggest that this situation could have further consequences.
$BTC , $XRP , $BNB
#Сryptomarketnews , #TrumpTariffs
Here, our subscribers will be the FIRST to know about all the most interesting changes in the news agenda of the worlds of finance and cryptocurrency. All in one news feed!!!
Welcome to us! There are enough news for everyone!!! 😉
