EddieJayonCrypto
14 Jul 25
Binance founder Changpeng Zhao reposted a tweet by crypto influencer Matt Wallace accusing Coinbase of secretly opposing both Binance and Donald Trump’s crypto project, World Liberty Financial. Wallace claims Coinbase was behind negative media reports targeting Trump’s initiative, fearing a Trump co...
A fresh controversy has ignited in the crypto community following Binance founder Changpeng Zhao’s (CZ) decision to repost a tweet by crypto influencer Matt Wallace. Wallace accused Coinbase of covertly working against both Binance and U.S. President Donald Trump’s crypto initiative, World Liberty Financial. According to Wallace, new evidence suggests Coinbase was the anonymous source behind negative media reports targeting Trump’s project and Binance.
Wallace alleges that Coinbase executives feared a political comeback by Trump, during which a potential pardon for CZ could have allowed Binance to re-enter the U.S. market. Given Binance's status as the world’s largest cryptocurrency exchange, such a development posed a serious threat to Coinbase’s market share. Concerns over Binance’s return were compounded by Coinbase’s own challenges, including higher trading fees and customer service issues, which could have placed Coinbase at a disadvantage if competition intensified.
Most notably, Wallace labeled Coinbase’s alleged targeting of Trump’s crypto venture as “anti-American” and questioned whether Coinbase would own up to these actions if presented with proof. In swift response, Coinbase’s Chief Legal Officer Paul Grewal dismissed these claims as “pure misinformation.” Grewal emphasized that Coinbase neither contributed to the story nor engages in attacks on competitors, and welcomed businesses aligned with expanding the cryptocurrency ecosystem. He concluded by urging those seeking the true source of the story to “keep looking.”