CZ angrily criticized Bloomberg for smearing! Implicitly pointing to Coinbase for leaking information, Trump stablecoin USD1 sparks controversy again.

Bloomberg (Bloomberg) accused Binance (Binance) on 7/12 of assisting in the development of the Trump family-supported stablecoin "USD1", further claiming that Binance founder CZ helped Trump earn tens of millions of dollars. In response, CZ angrily retorted that this is "a smear article sponsored by competitors", and even shared another post on Twitter (X), hinting that Coinbase leaked information to Bloomberg. Coinbase's legal officer Paul Grewal immediately refuted this statement, resulting in intense exchanges between the two parties.

Bloomberg exposed that Binance participated in USD1, profiting Trump family tens of millions.

Abu Dhabi Investment Company MGX announced in March 2025 that it would invest $2 billion in Binance using an "unnamed stablecoin." It wasn't until May that Trump crypto project WLF co-founder Zach Witkoff confirmed that the transaction was settled through their own stablecoin "USD1."

According to a report by Bloomberg on July 12, citing three informed sources, Binance not only participated in the development and marketing of USD1 but also handled the much-anticipated $2 billion MGX investment project. Bloomberg added that as of now, up to 90% of USD1 is still stored in Binance wallets, which can bring the Trump family tens of millions of dollars in interest income.

Bloomberg reported on 7/12 that CZ angrily criticized Bloomberg for spreading rumors and is considering filing a lawsuit.

After the news broke, Binance co-founder CZ immediately denied it on Twitter (X) and angrily criticized:

"Another smear report sponsored by competitors, with so many inaccuracies that I don't even know where to start rebutting! I might have to sue Bloomberg for defamation again."

CZ subsequently forwarded a screenshot of Bloomberg's previous public apology to Binance. At that time, Bloomberg apologized for a 2022 report accusing Binance of being a "Zhao Changpeng Ponzi scheme" and acknowledged that the headline was "incorrect and unfounded." Ultimately, both parties reached a settlement through donations.

CZ retweeted the revelation, implying that Coinbase is using Bloomberg to carry out an attack.

Just a few hours after CZ criticized Bloomberg, he retweeted a post insinuating that Coinbase is the "scoop source" for Bloomberg's report on Binance and USD1. This post came from crypto commentator Matt Wallace, who stated:

"Coinbase executives are very concerned that if CZ's pardon is successful, Binance will return to the U.S. market. At that time, it will threaten Coinbase's market share, so they are taking preemptive action. However, they even dare to criticize President Trump, which is fundamentally anti-American. The truth will soon come to light."

But CZ did not comment further and only forwarded this article.

Coinbase's legal team immediately refuted the rumors, and the truth remains unclear.

In response to the accusation, Coinbase's Chief Legal Officer Paul Grewal immediately rebutted on Twitter (X):

"This is completely misinformation. We absolutely did not participate in the contents of this report, nor will we ever attack our competitors. We welcome any companies willing to work together to promote the development of the crypto industry. Please verify the facts!"

Before the deadline, the details reported by Bloomberg have not received a response from Binance, but judging from CZ's reaction, the opposition between the two parties has clearly intensified. Whether Coinbase is truly the source of the leak may not be confirmed in the short term.

In this article, CZ angrily criticizes Bloomberg for defamation! He hints that Coinbase leaked information, and the Trump stablecoin USD1 sparks controversy again, first appearing in Chain News ABMedia.