Binance CEO denies allegations company pushed Trumps’ stablecoin: Report

Binance CEO Richard Teng reportedly denied allegations that the cryptocurrency exchange influenced the decision to use USD1, a stablecoin issued by World Liberty Financial (a Trump family-backed business), for a $2 billion investment into Binance by an Abu Dhabi-based company, MGX. Teng stated that MGX decided on using USD1 for the transaction and that Binance "didn’t partake" in that decision. This denial comes amid increased scrutiny from lawmakers following former CEO Changpeng “CZ” Zhao receiving a presidential pardon from Donald Trump, which sparked allegations of corruption. The deal, initially announced in March, drew further attention after Eric Trump, a co-founder of World Liberty Financial, stated the funding would be settled using USD1. However, previous reports, including one from Bloomberg, suggested Binance was involved in developing some of the code for USD1, claims which CZ previously hinted might lead to a defamation lawsuit.

(Source：Cointelegraph)