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Big Drama: Coinbase and Binance Deny Each Other Over Media Leaks and Market Scramble!
Jakarta, Pintu News – The rivalry between two giant crypto exchanges , Coinbase and Binance, has heated up again after allegations emerged of information leaks allegedly being used to undermine their rivals. Both companies strongly deny any media attacks, asserting that the rumors are baseless. This case adds to the long list of dynamics in the global cryptocurrency industry, which is already rife with competition, rumors, and tensions among its key players.
The controversy began when a Bloomberg report raised Binance's alleged involvement in a stablecoin project called USD1, which is linked to World Liberty Financial and former US President Donald Trump. The report stated that Binance's wallet holds over $2 billion (equivalent to Rp32.5 trillion) in USD1, and highlighted the efforts of Binance founder Changpeng Zhao. which is reportedly seeking a presidential pardon to return to the US market.
Rumors spread on social media after several crypto influencers alleged that Coinbase might be using Bloomberg's anonymous source to undermine Binance's reputation in the American market. These allegations were immediately denied by Paul Grewal, Coinbase's Chief Legal Officer, who asserted that the allegations were "pure misinformation" and emphasized that Coinbase was not attacking competitors personally or institutionally.
BeInCrypto previously reported that Binance launched a community vote for PI's listing. Despite receiving 86% of the votes in favor, the exchange did not list the token .
Then, on Pi2Day, many expected a listing announcement, but again, nothing happened. However, this may not be without reason. In a detailed post on X, analyst Kim H. Wong highlighted why #Binance or Coinbase haven't listed Pi Coin. According to him, the primary obstacle is the non-open-source nature of the Pi Network blockchain code.
Wong emphasized that open-source code facilitates trust and technical vetting, standards that Pi Network has not yet met. A second issue is the lack of third-party security audits.
Large exchanges require rigorous security evaluations to protect users and comply with regulatory standards. The analyst noted that the unverified audit claims were refuted by an official disclaimer. Furthermore, there is no documentation or reliable sources to verify that Pi Network has ever been audited.
Renowned analyst CryptoCon, through an analysis posted on X, believes that this Bitcoin market cycle still has room to grow, considering that $BTC is currently at a low greed level.
"Bitcoin doesn't always experience three extreme greed swings in a single cycle, but I think this one is definitely one of them. It's currently at a low greed level , with plenty of room to grow!" he stressed. #Binanceturns8
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