Binance’s CZ Denies Bloomberg Claims Linking Him to Trump-Backed USD1 Stablecoin, Suggests Possible Legal Action
2025-07-12 10:29:33
Main Idea
Binance co-founder CZ denies Bloomberg's claims linking him to a Trump-backed USD1 stablecoin and threatens legal action, amid ongoing scrutiny of Trump-related crypto ventures.
Key Points
1. Bloomberg alleged that CZ was linked to the USD1 stablecoin issued by Trump-associated World Liberty Financial (WLF) and sought a presidential pardon after a $2B transaction involving Binance.
2. CZ refuted the claims, calling them 'factual errors' and hinted at possible legal action against Bloomberg.
3. CZ previously pleaded guilty to a felony charge in 2023 as part of a U.S. settlement, adding context to the scrutiny around his activities.
4. U.S. lawmakers are advancing crypto-related legislation, such as the GENIUS Act, which regulates payment stablecoins.
5. CZ has also disputed reports from other major outlets like the Wall Street Journal, highlighting ongoing media conflicts.
Description
Binance co-founder Changpeng “CZ” Zhao has strongly refuted Bloomberg’s recent allegations linking him to the Trump-backed USD1 stablecoin, threatening legal action over what he calls defamatory reporting. The Bloomberg article
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