A new controversy broke out in the crypto world after Binance founder Changpeng Zhao (CZ) had re -posted a tweet that Coinbase accused of the secret working against both Binance and US President Donald Trump’s Crypto Venture, World Liberty Financial.
The claim came from crypto -influencer Matt Wallace, who said that new evidence shows that Coinbase was the ‘anonymous’ source behind negative reports aimed at the project and binance of Trump. According to Wallace, Coinbase managers feared that if Trump returned to power and offer a possible grace to CZ, it could free the way for Binance to return the American market.
As it looks now, Binance remains the world’s largest cryptocurrency exchange, and a legal comeback in the US can quickly reduce Coinbase market share. Wallace claimed that due to the higher trading costs of Coinbase and problems with customer service, the company was worried that the site could lose to Binance if the playing field was leveled.
What raises eyebrows is the claim that Coinbase was willing to focus on Trump’s crypto initiative as part of his strategy to harm Binance. Wallace called the alleged movement “Anti-American” and wondered if Coinbase would admit these actions if the evidence would have surfaces.
Coinbase quickly shot these accusations. Paul Grewal, Chief Legal Officer at Coinbase, responded to social media and called the claims ‘Pure Wrong Information’. He wrote: “Sorry – This is pure wrong information. We have absolutely not contributed to this story. We don’t attack competitors and we welcome companies that share our goal to grow the cryptotaart.” GREWAL added that everyone who chases the real source of the story would “continue to look.”