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‘Pure Misinformation’: Coinbase Denies Role In Leak Tying Binance To Trump Coin

2025-07-14 15:09:14

‘Pure Misinformation’: Coinbase Denies Role In Leak Tying Binance To Trump Coin

Main Idea

Coinbase denies involvement in a Bloomberg story linking Binance to a Trump-associated stablecoin, calling it 'pure misinformation', while Binance considers legal action over the report.

Key Points

1. Coinbase's chief legal officer Paul Grewal denied the exchange's involvement in the Bloomberg story linking Binance to USD1, a stablecoin allegedly backed by World Liberty Financial and supported by Donald Trump.

2. Binance founder Changpeng Zhao criticized the Bloomberg report as false and is considering legal action, referencing a past lawsuit against Bloomberg for defamation.

3. The USD1 stablecoin recently launched with part of a $2 billion investment from a UAE sovereign fund, but its alleged ties to Binance and Trump remain unverified.

4. The crypto market's total capitalization stands at $3.76 trillion amid the controversy.

5. Uncertainty persists over the source of the Bloomberg story, with Coinbase and Binance both denying involvement and accusing critics of spreading misinformation.

Description

A sudden flare‑up of rumors sent waves through the crypto world this week. At the center is a Bloomberg story linking Binance to the creation of USD1, a stablecoin backed by World Liberty Financial and supported by US President Donald Trump’s family. Coinbase top lawyer stepped forward to shut down talk that his firm helped feed the report. Coinbase Denies Role In Bloomberg Story According to Coinbase chief legal officer Paul Grewal, the exchange had no hand in the Bloomberg piece. He said on X ...

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News binance Bloomberg coinbase Paul Grewal Stablecoins Trump USD1 World Liberty Financial
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