Binance’s CZ threatens to sue Bloomberg over Trump stablecoin report

Binance co-founder CZ has dismissed a Bloomberg report linking him to the Trump-backed USD1 stablecoin, threatening legal action over alleged defamation.

Binance co-founder and former CEO Changpeng “CZ” Zhao has rejected a recent Bloomberg report linking him to a stablecoin issued by World Liberty Financial (WLF), one of the crypto businesses tied to US President Donald Trump.

In a post on X responding to the investigation, Zhao called the article a “hit piece (sponsored by a competitor)” filled with “so many factual errors” that he “doesn’t even know where to begin.” He added, “Might have to sue them again for defamation.”

The Bloomberg report claimed Binance developed the original smart contract code for USD1, a stablecoin issued by World Liberty Financial, a company affiliated with former President Donald Trump.