He added that his team doesn’t target rivals and that anyone looking for the real source should keep digging. The whole thing is “pure misinformation”, Grewal said on X. Coinbase has long held that it has no interest in undercutting competitors.
Sorry— this is pure misinformation. We absolutely did not contribute to this story.
We don’t attack competitors, and we welcome any businesses that share our goal of growing the crypto pie.
Crypto commentator Matt Wallace threw gasoline on the fire by suggesting Coinbase was the anonymous tipster. He argued that if Binance wins a pardon for Zhao, it could regain full strength in the US and challenge Coinbase’s growth.
Coinbase learned that a pardon for Binance’s CZ may be on the table and due to their industry high fees and poor customer…
Lower trading fees and wider global reach are central to that idea. Wallace offered no proof, but his post has racked up more than 1 million views on X. Zhao then retweeted the allegation, driving more chatter without any clear nod of approval.
Binance founder Changpeng Zhao hit back hard. He blasted Bloomberg’s story as a “hit piece” and hinted that a competitor might have paid for it. He also reminded followers that he filed a lawsuit against Bloomberg in 2022 over false claims, forcing an apology. Now he’s weighing another defamation case.
Uncertainty remains over who really spoke to Bloomberg. Coinbase has denied involvement. Binance says its critics are at work. And the public is left waiting. Regulators could take an interest if the stablecoin allegations turn out to involve misleading statements or market manipulation. For now, both exchanges are sticking to their stories.
Featured image from HollaEx, chart from TradingView
