CZ denies $2B USD1 allegations tied to Trump – Details inside!
2025-07-12 22:12:35
Main Idea
Binance founder Changpeng Zhao (CZ) denies allegations of involvement in a $2 billion USD1 stablecoin venture linked to Trump, while BNB market activity shows a slight decline.
Key Points
1. CZ dismissed claims of his role in creating the USD1 stablecoin issued by Trump-backed World Liberty Financial (WLFI).
2. Abu Dhabi’s MGX reportedly invested $2 billion into Binance via USD1, reigniting scrutiny around Zhao’s past legal issues.
3. In 2023, CZ and Binance were fined $50 million and $4.3 billion, respectively, for breaking U.S. anti-money laundering laws, leading to CZ's resignation and jail time.
4. BNB market activity saw a slight dip, with Daily Active Addresses declining 5% and On-Chain Volume dropping over the weekend.
5. At the time of reporting, BNB traded at $690, up 14% from June lows.
Description
BNB market showed slight cool-off into the weekend on volume and activity fronts.
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