Binance co-founder and former CEO Changpeng “CZ” Zhao reposted a tweet saying Coinbase was an “anonymous” source for Bloomberg’s report on Trump’s crypto project, world free finance and Binance.
In an article on Sunday, crypto commentator Matt Wallace claimed that Coinbase executives feared Zhao’s potential pardon and Binance’s return to the U.S. market would threaten their market share, prompting efforts to undermine competitors.
“Binance is the world’s number one crypto exchange,” Wallace wrote, warning that Binance’s return with full legal status could seriously damage Coinbase’s business.
“The most shocking thing is that Coinbase will be in the capacity of President Trump to undermine their competition. This is anti-American! Will Coinbase face the Heat for their bad decisions? It will all come soon!” he wrote.
Zhao retweeted the post without confirmation or denial. Cointelegraph stood out from Binance and Coinbase, but received no response through the publication.
Binance is related to Trump’s USD1 Stablecoin
Bloomberg’s report says Binance develops USD1 smart contractStablecoin issued by World Free Finance is linked to former President Donald Trump.
The report also claims that Zhao applied for presidential pardon shortly after USD1 Used in $2 billion deal Involves second-hand investments by UAE funds. It notes that over 90% of USD1 tokens remain in binary wallets, potentially generating tens of millions of annual interest income.
Sunday, Zhao Called article A “hot work (sponsored by competitors)” filled with “so many factual errors” that he “didn’t even know where to start.” He added: “They may have to be sued again for defamation.”
Related: binance, which contacted Kenya Crypto Board, raised monopoly issues: Report
Zhao seeks presidential pardon
Zhao Enfessed to a felony As part of a settlement with the U.S. authorities in 2023. Although he has served four months in prison, he said in May that he was Seeking presidential pardon From Trump. Such a pardon could allow Zhao to return to the management or operational role of the U.S. cryptocurrency business.
Meanwhile, Zhao has been busy since the release. He said that on April 4, he will Start advising Kyrgyzstan Regulations related to blockchain and encryption are followed by signing a memorandum of understanding with foreign investment institutions in the country.
April 7, Zhao Appointed as a consultant For Pakistan’s crypto committee, a newly formed regulator oversees the country’s support for blockchain technology and digital assets.
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