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CZ Denies Ties to Trump-Linked Stablecoin, Threatens Legal Action Against Bloomberg
Binance co-founder and former CEO Changpeng “CZ” Zhao is pushing back against a recent report by Bloomberg, denying allegations linking him to a stablecoin tied to U.S. President Donald Trump.
In a scathing social media post, CZ dismissed the article as a “hit piece sponsored by a competitor,” riddled with factual errors that he refuses to engage with individually due to their sheer number. Zhao also hinted at taking legal action against Bloomberg, stating it might be time to “sue them again for defamation.”
The controversy stems from a report claiming Binance developed the original smart contract code for USD1 – a stablecoin issued by World Liberty Financial (WLF), a company allegedly linked to Trump. Furthermore, it is alleged that Zhao requested a presidential pardon shortly after a $2 billion deal involving a UAE-based fund investing in Binance.
CZ categorically rejected these claims, pointing out his past legal victory against the publication when Bloomberg’s Chinese-language edition publicly apologized for a false 2022 article accusing Binance of running a Ponzi scheme.
Source: coinpedia.org
