Coinbase suspected of attacking Binance competitors

Coinbase (NASDAQ:COIN) may have been the “anonymous source” cited by Bloomberg in a report claiming Binance specialists created smart contracts for the USD1 stablecoin, issued by the World Liberty Financial (WLFI) project linked to U.S. President Donald Trump’s family.

Wallace believes Coinbase is attempting to undermine a competitor’s reputation, fearing the return of the world’s largest crypto exchange to the U.S. market after a possible pardon of Binance founder Changpeng Zhao. The blogger insists Coinbase’s actions may be driven by the desire to maintain dominance in the U.S. crypto market, where Binance, with its low fees and quality service, poses a threat.

“Coinbase learned that a pardon for Binance founder Changpeng Zhao could be on the U.S. president’s agenda and fears that Binance will return to the U.S. with full legal status,” said Matt Wallace.

Coinbase’s Chief Legal Officer Paul Grewal stated that his company had no involvement in the Bloomberg publication.

“This is pure disinformation. We had absolutely no role in writing that article. We don’t attack competitors and welcome any company that shares our mission,” said Paul Grewal.

Earlier, the largest U.S. crypto exchange, Coinbase, announced it had obtained a Markets in Crypto Assets (MiCA) license in Luxembourg, allowing it to offer services across all 27 EU countries.

See also: "Reuters: Crypto exchanges made over $172 million on TRUMP memecoin"

#Binance #Coinbase

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