Binance co-founder and former CEO Changpeng “CZ” Zhao has dismissed a recent Bloomberg report tying him to a stablecoin launched by World Liberty Financial (WLF), one of the crypto entities linked to United States President Donald Trump. The prominent crypto figure accused Bloomberg of defamation and threatened to drag the firm to court for the second time in the past three years.
Binance CEO Threatens To Sue Bloomberg Again
In a July 11 report, Bloomberg claimed that the world’s largest crypto exchange, Binance, helped design the smart contract code behind the WLF stablecoin (USD1). The report also mentioned how USD1 was allegedly used in a $2-billion investment deal involving an Abu Dhabi-based firm.
CZ, who pleaded guilty to one felony count as part of a settlement deal with the US Department of Justice, recently reported that he was seeking a federal pardon from President Trump. Bloomberg implied in Friday’s report that the Binance co-founder sought a pardon after the exchange facilitated a large transaction using WLF’s stablecoin — hinting at a possible conflict of interest.
Zhao responded on X:
FUD. Bloomberg just wrote another hit piece (sponsored by a competitor) containing so many factual errors I don’t even know where to begin. Might have to sue them again for defamation.
In his post on X, CZ referenced a previous legal dispute with Bloomberg, who wrote an apology to the Binance co-founder and donated an agreed sum to a Special Education Foundation in 2024. We have journalistic standards that should, and will, be bette
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Author: Opeyemi Sule
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