Binance’s CZ Shares Claim That Coinbase Targeted Trump’s Crypto Project; Company Denies

The post Binance’s CZ Shares Claim That Coinbase Targeted Trump’s Crypto Project; Company Denies appeared first on Coinpedia Fintech News

A fresh controversy has erupted in the crypto world after Binance founder Changpeng Zhao (CZ) reposted a tweet accusing Coinbase of secretly working against both Binance and U.S. President Donald Trump’s crypto venture, World Liberty Financial.

The claim came from crypto influencer Matt Wallace, who said that new evidence shows Coinbase was the “anonymous” source behind negative reports targeting Trump’s project and Binance. According to Wallace, Coinbase executives feared that if Trump returned to power and offered a possible pardon to CZ, it could clear the way for Binance to re-enter the U.S. market.

As it stands, Binance remains the world’s largest cryptocurrency exchange, and a legal comeback in the U.S. could quickly reduce Coinbase’s market share. Wallace alleged that because of Coinbase’s higher trading fees and customer service issues, the company was worried it might lose ground to Binance if the playing field was leveled.

What’s raising eyebrows is the claim that Coinbase was willing to target Trump’s crypto initiative as part of its strategy to hurt Binance. Wallace called the alleged move “anti-American” and questioned whether Coinbase would admit to these actions if proof surfaces.

However, Coinbase quickly shot down these accusations. Paul Grewal, Chief Legal Officer at Coinbase, responded on social media, calling the claims “pure misinformation.” He wrote, “Sorry— this is pure misinformation. We absolutely did not contribute to this story. We don’t attack competitors, and we welcome any businesses that share our goal of growing the crypto pie.” Grewal added that anyone chasing the real source of the story should “keep looking.”