Yeliz Akmaca 
A new report in the crypto market has turned attention to Binance and the Trump-linked USD1 stablecoin. Bloomberg’s latest article claims that Binance wrote the code for the Trump-connected USD1 stablecoin. According to the report, the exchange not only provided technical support but also managed the process, controlled the coin’s value, and generated income for the Trump family. These allegations mark a new era of political influence debates in the crypto world.
Although the information in the report has not been directly confirmed by primary sources, it is based on three anonymous insiders. Binance’s founder Changpeng Zhao (CZ) strongly denied the accusations and announced he is considering a defamation lawsuit. However, his statement did not directly refute any of the technical details mentioned in the report.
How Deep is the Connection Between Binance and USD1?
There is no documented concrete partnership between Binance and Trump yet. However, the report emphasizes that their link is not superficial. For example, USD1 quickly reached a $2 billion market cap, while its circulating supply remained extremely limited. This suggests that the majority of the stablecoin is controlled by specific actors.
Analysis in Bloomberg’s article claims that a significant portion of this supply is still held by Binance, and market manipulation occurs through buying and selling activities. Moreover, the process reportedly provides steady income to the Trump family, creating a financial interest. Binance founder Changpeng “CZ” Zhao reacted to the news here:
4. FUD. Bloomberg just wrote another hit piece (sponsored by a competitor) containing so many factual errors I don't even know where to begin.
Might have to sue them again for defamation. https://t.co/FevGMArHj8
— CZ 🔶 BNB (@cz_binance) July 11, 2025
The listing of USD1 on Binance attracted more attention with other Trump-linked crypto assets also moving to the platform. Additionally, a $32.8 million transfer of Trump’s memecoins directly to Binance further strengthened this connection.
Allegations Continue, Parties Remain Silent
Trump’s White House representatives declined to comment on the news. Officials from World Liberty Financial described the report as an “attempt to create political agenda.” CZ’s statements mostly contained personal criticisms directed at the reporters. A Binance spokesperson reminded that CZ no longer holds an official role in the company but did not provide data that would directly disprove the allegations.
It is worth recalling that CZ was previously convicted on money laundering charges and later applied for a presidential pardon. At that time, his denials were later confirmed to be false. Therefore, public trust remains low.
In the end, only a court process can clarify whether the allegations are true or not. If Binance indeed wrote the code for USD1 and financially benefited the Trump family during this process, it will raise both ethical and legal controversies.
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