Amidst the swirling mists of the digital asset world, the largest exchange by trading volume, Binance, seems to have woven a more intricate tapestry in the creation of World Liberty Financial’s stablecoin, USD1, than one might have initially surmised.
According to a Bloomberg report, which, as always, prefers to remain coy about its sources, Binance not only penned the code for the USD1 stablecoin smart contract but also played a pivotal role in its promotion. The exchange facilitated a $2 billion transaction in USD1, a sum so vast it could buy a small country—or at least a few more Twitter followers for a certain ex-president. 🌍💰
Interestingly, approximately 90% of all USD1 remains nestled in Binance-controlled wallets, a fact that might raise a few eyebrows among the more discerning observers of the crypto realm. 🕵️♂️
USD1 made its grand entrance in March 2025, and just two months later, during a podcast interview, the erstwhile Binance CEO, Changpeng Zhao—known to his friends and enemies alike as CZ—revealed that he had applied for a presidential pardon. This, after being convicted in 2023 for failing to uphold the sanctity of anti-money-laundering standards at Binance, a transgression that earned him a brief stint in the less glamorous quarters of society. 🏛️ Jailbird to Pardoned? Only time will tell.
The news of CZ’s pardon application, coupled with Binance’s financial entanglements with a company linked to the Trump family, prompted three US senators to pen a letter to the White House, seeking clarity:
“We write to request information about reports that Changpeng ‘CZ’ Zhao, founder and majority owner of cryptocurrency exchange Binance, is seeking a pardon from President Trump. Just weeks ago, Binance, Emirati firm MGX, and World Liberty Financial (WLF)—a cryptocurrency company financially linked to President Trump and his family—announced a $2 billion deal involving USD1, WLF’s stablecoin. The convergence of Mr. Zhao’s pardon application and Binance’s financial entanglements with the President’s family presents urgent concerns regarding the integrity of our justice system… Though he stepped down from his role as CEO after pleading guilty to these charges, Mr. Zhao still owns 90% of the company.”
A spokesperson for World Liberty Financial, ever the diplomat, dismissed Bloomberg’s reporting as “factually deficient and designed to further a political agenda.” Meanwhile, a Binance spokesperson reiterated that CZ is no longer the exchange’s CEO, a point that seems to have been lost in the whirlwind of accusations and counter-accusations. 🤷♂️
World Liberty Financial, while linked to Donald Trump, maintains that it is not under his direct control, thus avoiding any potential conflict of interest with his presidential duties. Trump, it is reported, has placed all his assets in a trust managed by his eldest son, a move that might just be the ultimate in family business strategy. 🤝👨👩👧👦
Read More
- Gold Rate Forecast
- SOL PREDICTION. SOL cryptocurrency
- Silver Rate Forecast
- PENGU PREDICTION. PENGU cryptocurrency
- GBP USD PREDICTION
- USD RUB PREDICTION
- EUR PLN PREDICTION
- FLOKI/USD
- GBP RUB PREDICTION
- JLP/USD
2025-07-11 22:07