Binance founder Changpeng Zhao (CZ) retweeted a notable post by social media influencer Matt Wallace.
Wallace claimed that Coinbase was the “anonymous” source behind the negative press about US President Donald Trump’s crypto project World Liberty Financial and Binance.
Wallace used the following expressions in his post:
“Evidence is emerging that Coinbase is the anonymous source behind President Trump’s smear campaign against World Liberty Financial and Binance.”
Coinbase executives were allegedly concerned about a potential presidential pardon for CZ and the possibility of Binance returning to the US with legal status. Given Coinbase's high transaction fees and poor customer service, it's believed that Binance could lose significant market share if it re-enters the US market.
“Binance is the world's No. 1 crypto exchange. Returning to the US with legal status would immediately shrink Coinbase's market share and severely damage its revenue. Most shockingly, Coinbase is targeting President Trump to undermine its own competition. This is un-American,” Wallace said.
*This is not investment advice.
