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World Liberty Financial, a company partially owned by Donald Trump’s sons, has issued a cease-and-desist letter to Fight Fight Fight, the company behind the popular Trump-themed memecoin. This legal action follows the announcement of a new digital wallet named “$TRUMP Wallet,” which Fight Fight Fight is developing to allow users to trade and hold the
The post Just in: World Liberty Financial Sends Cease-and-Desist Letter To TRUMP Coin Creators appeared first on CoinGape.
The post Why Is Binance’s CZ Suing Bloomberg? appeared first on Coinpedia Fintech News
Binance co-founder and former CEO Changpeng “CZ” Zhao is threatening legal action against Bloomberg over a report linking him to a stablecoin tied to U.S. President Donald Trump.
In a post on X, CZ slammed the article as a “hit piece sponsored by a competitor,” claiming it was filled with “so many factual errors” that he “doesn’t even know where to begin.” His fiery response has reignited debate over media accountability, crypto’s political ties, and the rising pressure surrounding digital finance.
4. FUD. Bloomberg just wrote another hit piece (sponsored by a competitor) containing so many factual errors I don’t even know where to begin.
Might have to sue them again for defamation. https://t.co/FevGMArHj8
— CZ
BNB (@cz_binance) July 11, 2025
The Bloomberg report claims Binance developed the original smart contract code for USD1 – a stablecoin issued by World Liberty Financial (WLF), a company reportedly tied to Trump.
It also states that over 90% of USD1 tokens remain in Binance wallets, potentially generating tens of millions of dollars in interest every year. On top of that, it alleges Zhao requested a presidential pardon shortly after a $2 billion deal involving a UAE-based fund investing in Binance.
CZ rejected all these claims, hinting that he may sue Bloomberg for defamation. He also pointed to his past legal win against the publication, when Bloomberg’s Chinese-language edition publicly apologized in July 2024 for a false 2022 article accusing Binance of running a Ponzi scheme.
This controversy comes as Trump’s crypto ambitions draw more attention from U.S. lawmakers. His ventures – like World Liberty Financial, a memecoin, and crypto-friendly campaign funding – have raised concerns across both political aisles.
Three major crypto bills are currently under review in the House, including the GENIUS Act, which aims to regulate payment stablecoins. While Democrats were initially against the bill due to Trump’s involvement, it still passed in the Senate with bipartisan support, showing how far crypto has entered the political mainstream.
This isn’t the first time CZ has clashed with the media. Back in April, he called out The Wall Street Journal over a report suggesting he agreed to testify against Tron founder Justin Sun as part of a plea deal with U.S. authorities.
“WSJ is really TRYING here,” Zhao wrote on X, sarcastically pointing out that government witnesses usually don’t serve time. He had already completed a four-month prison sentence in 2023 after pleading guilty to a felony in a U.S. settlement.
CZ even suggested WSJ journalists were paid to damage his reputation.
Zhao’s post triggered strong reactions on Crypto Twitter. Many users backed his decision to push back against Bloomberg, while crypto influencer Wendy O questioned why the outlet seems so fixated on CZ. The response reflects ongoing distrust between crypto communities and mainstream media.
As Zhao fights to clear his name and Binance navigates regulatory hurdles, the crypto industry remains a battleground of legal, political, and financial tensions.
With Trump’s crypto ventures under the microscope and Zhao’s potential lawsuit on the horizon, this saga highlights the turbulent dynamics shaping the future of digital finance.
The post Why Is Binance’s CZ Suing Bloomberg? appeared first on Coinpedia Fintech News
Binance co-founder and former CEO Changpeng “CZ” Zhao is threatening legal action against Bloomberg over a report linking him to a stablecoin tied to U.S. President Donald Trump. In a post on X, CZ slammed the article as a “hit piece sponsored by a competitor,” claiming it was filled with “so many factual errors” that …
The US DOJ just published a new directive claiming it will stop investigating and criminally charging crypto exchanges, mixers, and offline wallets.
This has produced a mixed response from the crypto community. Some sectors are jubilant about the potential freedom for business, while others fear the growing problem of fraud and criminal money laundering.
The US financial regulatory apparatus has been much more friendly to crypto since President Trump took office. The SEC is reviewing its guidelines, the FDIC is working to prevent future debanking, and the entire political climate is changing.
Today, the Department of Justice (DOJ) released a statement claiming it will no longer investigate crypto entities.
“The Justice Department will stop participating in regulation by prosecution in this space. Specifically, the Department will no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations,” the DOJ’s statement claimed.
The DOJ’s statement applies to cryptocurrency exchanges, wallets, and crypto mixers like Tornado Cash. It builds on the Department’s previous announcement today, claiming that it disbanded the National Cryptocurrency Enforcement Team.
The department gives itself room to prosecute individual bad actors, but only in specific circumstances.
The US DOJ has been notorious for leading some of the biggest criminal investigations against crypto exchanges, such as Binance and KuCoin. Its critical investigation and charges against Binance led to the record $4.3 billion settlement in 2023.
However, the department is now moving on from crypto. According to today’s announcement, it will even drop any ongoing investigations against such entities immediately.
Also, it will not pursue legal liability for developers whose code is used by others to commit crimes, and it has closed all active investigations.
While it was expected that the department would lower its crypto enforcement under Trump, the complete laissez-faire decision has caught the crypto by surprise. Following the news, Tornado Cash (TORN) surged nearly 10% today.
The Department also asked regulators to review victim compensation laws. Although this is arguably a victory for crypto, it may also enable future finance crimes.
Crypto sleuth ZachXBT recently claimed that there is an “eye-opening” level of North Korean activity in DeFi. If the department turns a blind eye to major criminal operations on these exchanges and mixers, it may enable serious violations.
After the announcement first broke, crypto Twitter was filled with users declaring that “crime is legal now.”
Additionally, the industry may be pushing its luck with a dramatic move like this. Crypto scams are at an epidemic level right now, and the market is very uncertain.
The DOJ is disabling its ability to target criminals on exchanges and mixers, with little guarantee that it can enforce the law. In other words, it may be removing critical guardrails to prevent future disasters.
“Crypto lobby: ‘Sure, Trump nixed the Crypto Enforcement Team, directed Major Fraud prosecutors to stop prosecuting crypto cases, and is trying to exempt crypto platforms from the Bank Secrecy Act, but they wrote right here that they care about stopping crypto crime! Reject the evidence of your eyes and ears!’” claimed crypto researcher Molly White.
Overall, it’ll be difficult to fully predict the implications of the department’s new policy on exchanges. For now, this directive will give many crypto-related businesses the freedom to conduct operations as they see fit.
Hopefully, business will proceed as usual without any serious controversies.
The post US Justice Department (DOJ) Will Stop Investigating Crypto Exchanges and Wallets appeared first on BeInCrypto.
As the world focused on the Israel-Iran war and its impact on the crypto market, a serious $50M Telegram scam looted individuals. A massive over-the-counter (OTC) fraud made through a popular social media platform called Telegram resulted in millions being drained from investors and Aza Ventures. Now, the on-chain experts have disclosed the individual behind.
The post Who’s Behind the $50M Telegram Scam Using SUI, NEAR, SEI as Bait? appeared first on CoinGape.