Binance’s CZ Suggests Coinbase May Be Source Behind Bloomberg Report on Trump-Linked Stablecoin

Key Points

1. CZ denied claims in a Bloomberg report that Binance had significant involvement with USD1, a Trump-linked stablecoin, calling it a 'hit piece'.

2. The report suggested over 90% of USD1 tokens are held in Binance-controlled wallets, raising questions about Binance's role.

3. CZ implied Coinbase may have leaked the report to discredit Binance, amid competitive tensions between the two exchanges.

4. CZ is seeking a presidential pardon to regain eligibility for leadership roles in U.S. crypto firms while expanding his influence internationally.

5. The controversy highlights regulatory and political risks for major crypto exchanges, with potential implications for market competition and oversight.