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Coinbase Chief legal director Paul Grewal firmly denied any connection between exchange and recent report Bloomberg that claims Binance He played a key role at the start of World Liberty Financial (WLFI)a crypto project associated with the President Donald Trump.
The report published on July 11th quoted anonymous sources who claimed that binance helped to develop Intelligent Treaty of WLFI USD1 Stablecoin And he promoted a token in a $ 2 billion transaction.
Since its publication, speculation has spread to social media and accused Coinbase of an anonymous source of the story.
In the post of July 13 at X, Grewal rejected the claim, saying:
“We absolutely did not contribute to this story. We will not attack competitors.”
He said that the company focuses on the expansion of a wider crypto ecosystem and welcomes the presence of others who share this vision.
Speculation of social media
Grewal’s statement was in response to the controversial speculation of Matt Wallace on cryptovia on the X.
Wallace had claimed Coinbase maybe supported the Bloomberg report for fear that potential American grace for Binance founders ChangPeng Zhao could open the door for Binance’s return to the American market.
He claimed that such a return could endanger the dominant position of Coinbase, especially due to its higher commercial fees and permanent criticism around the customer service.
Another popular crypto influence, Ian Miles Cheong, also claimed that Coinbase may be behind the intervention. Influencer he wrote to x:
“I would bet that the competitor is like coinbase. Higher fees, worse platform. They are trying to take off the binance and use the Trump angle.”
Although Zhao did not name Coinbase directly, he retieted several posts, suggesting that the competitor was an article by Bloomberg and described the message as “FUD”.
Zhao said:
“Bloomberg has just written another hit (sponsored by a competitor) containing so many factual errors that I don’t even know where to start. Maybe they’ll have to sue them for defamation.”
Especially Zhao has a and An enemy relationship with a traditional media house And over the years he consistently criticized the outlets for the quality of their reports.
However, the current discussion comes at a time of increased control in the cryptometer, as political affiliation and regulatory results are increasingly forming market stories.
While Coinbase and Binance continue to compete for the market share, they both navigate the complex landscape shaped by coercive measures, political debates and moving sentiment.
