Binance co-founder CZ denies Bloomberg report linking him to USD1 stablecoin issued by World Liberty Financial, tied to ex-President Trump. Bloomberg claims Binance developed smart contract code for USD1. Zhao accuses article of factual errors and potential defamation, threatens lawsuit. Over 90% of USD1 tokens reportedly in Binance wallets, generating significant interest revenue.

Zhao refers to previous legal dispute with Bloomberg over Ponzi scheme accusations. Bloomberg’s Chinese-language edition issued apology in 2024 retracting false claims. Zhao previously pleaded guilty to felony count in 2023, served prison time, sought presidential pardon from Trump. Trump’s crypto ventures under scrutiny, including World Liberty Financial and meme coin.

Republican leaders considering three crypto bills, including GENIUS Act regulating payment stablecoins. Bill passed Senate with bipartisan support despite initial Democratic opposition due to Trump’s crypto interests. Zhao dismisses Wall Street Journal report alleging he agreed to provide evidence against Justin Sun in plea deal with DOJ. Zhao claims WSJ trying to smear him, questions credibility.

Read more at Cointelegraph.: Binance’s CZ Denies Bloomberg Report on Trump-Backed USD1 Stablecoin