Binance founder Changpeng Zhao has publicly accused rival exchange Coinbase of leaking a Bloomberg report alleging Binance’s significant involvement with USD1, a stablecoin project linked to former U.S. President Donald Trump. CZ dismissed the claims as a ‘hit piece’ and denied substantial connections to the token.
The controversial Bloomberg article indicated that over 90% of USD1 tokens reside in Binance-controlled wallets, raising questions about the exchange’s role in the project. CZ suggested Coinbase potentially orchestrated the leak amid escalating competitive tensions between the cryptocurrency platforms.
The dispute surfaces while CZ actively pursues a U.S. presidential pardon to regain eligibility for leadership positions in American crypto firms. Simultaneously, he continues expanding his international influence within the digital asset sector.
This incident underscores mounting regulatory scrutiny and political risks facing major cryptocurrency exchanges, with potential implications for market competition and oversight mechanisms.