Binance’s CZ threatens to sue Bloomberg over Trump stablecoin report
2025-07-12 10:30:08
Main Idea
Binance co-founder CZ has dismissed a Bloomberg report linking him to a Trump-backed stablecoin, threatening legal action over alleged factual errors and referencing a previous legal dispute with Bloomberg.
Key Points
1. CZ rejected a Bloomberg report connecting him to the Trump-affiliated USD1 stablecoin, calling it a 'sponsored piece' with 'so many factual errors.'
2. CZ referenced a previous legal dispute with Bloomberg, where the publication retracted a 2022 article accusing Binance of operating a Ponzi scheme and issued an apology.
3. Bloomberg's Chinese-language edition had previously apologized and retracted the 2022 article, calling the headline 'false and baseless,' and agreed to a charitable donation instead of damages.
4. CZ pleaded guilty to one felony count in a 2023 settlement with US authorities but has not received a presidential pardon from Trump.
5. The report mentioned that over 90% of USD1’s tokens remain in Binance wallets, which CZ dismissed as 'FUD' (Fear, Uncertainty, Doubt).
Description
Binance co-founder CZ has dismissed a Bloomberg report linking him to the Trump-backed USD1 stablecoin, threatening legal action over alleged defamation.
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