The co-founder and former CEO of Binance, Changpeng “CZ” Zhao, rejected a recent Bloomberg report connecting it to a stablecoin published by World Liberty Financial (WLF), one of the cryptographic companies linked to the American president Donald Trump.
In an article on X responding to the survey, Zhao described the article as “successful play (sponsored by a competitor)” filled with “so many factual errors” which he “does not even know where to start”. He added: “may have to continue them again for defamation.”
The Bloomberg report said Binance had drawn up the original intelligent contract code for USD1, a stablecoin issued by World Liberty Financial, a company affiliated with former president Donald Trump.
He also alleged that Zhao had asked for a presidential forgiveness shortly after USD1 had been used in an agreement of $ 2 billion involving the investment of a fund based on water in Binance. More than 90% of USD 1 tokens would remain in Binance portfolios, potentially generating tens of millions of annual interest income.
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False Binance Ponzi from Bloomberg’s Bloomberg
Zhao’s tweet has referred to a previous legal dispute with Bloomberg, linking to apologies from July 2024 from the Chinese publication edition.
The declaration retracted an article of 2022 accusing the Binance of exploiting a Ponzi scheme, calling for the title “False and Sans Bond”. At the time, Bloomberg agreed to donate charity instead of paying damages.
Zhao pleaded guilty to a crime leader in settlement with the American authorities in 2023. Although he has already served four months in prison, he said in May that he was looking for a presidential pardon of Trump. Such forgiveness could potentially allow Zhao to return to a management or operational role in an American cryptography company.
Trump’s Crypto Ventures, including World Liberty Financial, its official same and the contributions of the Crypto executive campaign, have been the subject of a meticulous examination of the American legislators since before its entry into office.
The Republican leaders of the Chamber should consider three cryptography invoices, including the Genius Act, which regulates the stables of payment. The bill adopted the Senate with bipartite support despite the initial democratic opposition due to the cryptographic interests of Trump.
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Zhao’s beef with WSJ
In April, Zhao also rejected a report by the Wall Street Journal which said he had agreed to provide evidence against the founder of Tron Justin Sun as part of a advocacy with the United States Ministry of Justice.
“WSJ really tries here. They seem to have forgotten who went to prison and who did not do it,” said Zhao in a post of April 12. “People who become government witnesses are not going to prison. They are protected. I heard someone paid WSJ employees to get dirty. ”
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