Binance’s big boss, Changpeng Zhao (CZ), is at it again. The crypto mogul has fired back at Bloomberg for a second time, threatening to sue them over a report linking Binance to the USD1 stablecoin. On Friday, CZ took to X to slam the article as “another hit piece,” claiming it was “sponsored by a competitor” (no names, of course). He wasted no time labeling the piece as nothing more than FUD, fear, uncertainty, and doubt in crypto-speak.

In typical CZ fashion, he called the Bloomberg report riddled with “so many factual errors I don’t even know where to begin.” He even hinted at possibly taking legal action again for defamation. Apparently, the Bloomberg team is in hot water for publishing what CZ believes to be a complete fabrication.

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Source: Giphy

What’s the Buzz About?

The heart of the controversy is a Bloomberg report published Friday, which alleged that Binance helped develop the smart contract code for USD1, a stablecoin launched by World Liberty Financial on May 22. The report claimed that nearly 90% of USD1 was sitting in Binance’s wallets, potentially racking up millions in interest for the Trump family. The launch came after a meeting between World Liberty Financial’s team and CZ, with the story suggesting some kind of behind-the-scenes "fixing" on CZ’s part.

But CZ isn’t having it. He denied any such claims, especially regarding his so-called involvement with the Trump family or any supposed influence over international dignitaries.

This isn't CZ’s first legal rodeo. He’s no stranger to suing the press. In 2022, he took on Modern Media, a Hong Kong-based publisher for Bloomberg, over a magazine article claiming CZ was running a Ponzi scheme. The lawsuit ended with a retraction, an apology, and a donation to charity. CZ also took Forbes to court in 2020 for alleging Binance was involved in money laundering, a case he dropped in 2021 after a hefty $200 million investment in the media company.

Now, CZ’s fans are rallying behind him, urging him to go full throttle with the defamation lawsuit against Bloomberg. Whether he’ll go through with it remains to be seen, but one thing's for sure: CZ is no stranger to the courtroom.

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