CZ Retweets claims Coinbase behind Bloomberg’s Trump Stablecoin report

Binance co-founder and former CEO Changpeng “CZ” Zhao reposted a tweet saying Coinbase was the “unknown” resource behind Bloomberg’s report that target Trump’s Crypto project, World Liberty Financial, and Binance.

In a Sunday post on X, Crypto commentator Matt Wallace claimed that Coinbase executives are afraid of a potential forgiveness for Zhao and Binance’s return to the US market will threaten their sharing in the market, motivating efforts to break competitors.

“Binance is the #1 Crypto exchange of the world,” Wallace wrote, warning that Binance’s return with full legal status could damage Coinbase’s business.

“What is most surprising is that Coinbase is targeting President Trump in an attempt to hurt their competition. It’s anti-American! Will Coinbase be careful and deal with the heat for their bad decision? It’s all going to come out soon!” He wrote.

Zhao retweet to the post without confirming it or rejecting it. Cointelegraph reached both Binance and Coinbase to comment but did not receive a response by publishing.

Related: ‘Is this true?’ Cz question ton ton’s uae golden visa while gov’t resources are silent

Binance linked to Trump’s USD1 Stablecoin

Bloomberg’s report is said to be Binance developed a wise contract for USD1A stablecoin issued by World Liberty Financial, linked to former President Donald Trump.

The report also claimed that Zhao applied for a presidential pardon shortly after USD1 Used in a $ 2 billion deal involving the investment of the UAE fund in Binance. It is noted that more than 90% of USD1 tokens remain in Binance’s wallets, which potentially make up ten -tens of million in annual interest income.

On Sunday, Zhao Called an article A “hit piece (who is sponsored by a competitor)” full of “so many facts in reality” that he does not know where to start. “He added,” they may sue for a defamation again. “

Related: Binance Ties on Kenyan Crypto Board raises concerns with Monopoly: Report

Zhao is looking for the President’s forgiveness

Zhao Pleaded guilty to a number of felony As part of a negotiation of US authorities in 2023. Although he had served for four months in prison, he said in May that he was Looking for a presidential forgiveness From Trump. Such forgiveness may allow Zhao to return to a managerial or operational role in a US crypto business.

Meanwhile, Zhao has been busy from his release. On April 4, he said he would Start counseling with Kyrgyzstan In regulation related to blockchain and crypto after signing a MOU with the foreign investment agency of the country.