Binance co-founder and former CEO Changpeng “CZ” Zhao has rejected a recent Bloomberg report tied to Stablecoin launched by World Liberty Financial (WLF), one of the crypto entities associated with US President Donald Trump. The well-known cryptographer has denounced Bloomberg for his honor and threatened to drag the company to court for the second time in the last three years.
Binance CEO threatens to sue Bloomberg again
In a July 11 report, Bloomberg claimed that Binance, the world’s largest crypto exchange, helped design the smart contract code behind WLF Stablecoin (USD1). The report also stated how USD1 was said to have been used in a $2 billion investment agreement involving an Abu Dhabi-based company.
CZ recently reported that he has pleaded guilty to a felony count as part of a settlement agreement with the U.S. Department of Justice, that he has recently requested a federal pardon from President Trump. Bloomberg hinted in a report Friday that the Binance co-founder asked for pardon after the exchange promoted a massive transaction using WLF’s Stablecoin.
Zhao responded with X:
fud. Bloomberg wrote another hit (hosted by a competitor) that contained so many de facto errors. You may have to sue them again for your delinquent loss.
In his post on X, CZ referenced a previous legal dispute with Bloomberg. Bloomberg wrote an apology to the Binance co-founder and donated the amount agreed to the Special Education Foundation in 2024. “To this end, we will not make any public or claim for the same or similar effect in any way,” read some of the apology.
Source: x @cz_binance on x
The former Vinance CEO appears to be following a similar path soon, suing the financial giant for his second loss in a few years.
Is CZ targeted?
Bloomberg appears to be the only financial media company to recently release a “hit” on CZ. The Wall Street Journal (WSJ) published an article in May, claiming that Zhao helped “promote” some referrals for Trump Family’s World Liberty Financial’s international trip.
At the time, CZ was a fixer and denied connecting the WLF’s foreign travel team to a particular Mr. Saqib. According to Binance’s co-founder, he and the crypto industry as a whole are being targeted by certain forces who do not want the success of the US digital assets sector.
BTC Prices in Daily Time Frame | Source: BTCUSDT Chart in TradingView
Binance featured images, TradingView charts
Bitconist’s editing process is focused on delivering thorough research and accurate and unbiased content. We support strict sourcing standards, and each page receives a hard-working review by a team of top technology experts and veteran editors. This process ensures the integrity, relevance and value of your readers’ content.
