Algorithmic Ratings & Investment Analysis
© ARIA 2025
by aria-ratings.com
July 12, 2025 at 13:21
Binance's CZ Takes Legal Stand Against Bloomberg Over Stablecoin Allegations
Changpeng “CZ” Zhao, the co-founder and former CEO of Binance, has announced potential legal action against Bloomberg following a report that allegedly ties him to a stablecoin linked to Donald Trump.
In a post on X, CZ criticized the article as a "hit piece sponsored by a competitor," claiming it contained multiple factual inaccuracies.
He specifically refuted claims that Binance developed the code for the USD1 stablecoin, asserting that the report misrepresented facts about the currency's ties to him.
Zhao also addressed allegations regarding a presidential pardon request, suggesting he might pursue a defamation lawsuit against the media outlet.
His response echoes a previous legal victory against Bloomberg, which saw the publication apologize for a false article labeling Binance a Ponzi scheme.
This controversy surfaces amidst increasing scrutiny of Trump's ventures in crypto, raising concerns in political circles.
Three major crypto regulatory bills are currently under review, highlighting the growing intersection of cryptocurrency and politics.
Zhao's history of clashes with the media points to a broader tension between crypto figures and traditional news outlets.
On social media, many in the crypto community expressed support for Zhao, reflecting distrust towards mainstream media narratives.
As this situation develops, it underscores the complexities and challenges facing the future of digital finance in a politically charged environment.
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