WLFI Denies Bloomberg Report of Binance Stablecoin Partnership
A recent Bloomberg article stirred controversy by claiming that World Liberty Financial (WLFI), a blockchain initiative tied to the Trump family, was in negotiations with Binance to create a U.S. dollar-backed stablecoin.
The report also suggested that Binance’s co-founder, Changpeng Zhao, met WLFI’s co-founder, Steve Witkoff, during the Bitcoin MENA 2024 conference in Abu Dhabi.
This news quickly garnered attention within the crypto community, prompting speculation about the potential collaboration between WLFI and Binance. However, WLFI wasted no time in denying the report, calling it “politically motivated” and issuing a sharp response on social media to dismiss the claims.
In its statement, WLFI accused major news outlets, including Bloomberg and The Wall Street Journal, of spreading misleading and agenda-driven narratives about the project. While the statement did not directly address the specific Binance allegations, it stressed that the media had failed to substantiate their claims with solid evidence.
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The project further distanced itself from the accusations by highlighting its connections with other prominent blockchain ventures. In closing, WLFI urged its followers to disregard what it deemed “clickbait” and to rely solely on official updates from the project for accurate information.
WLFI, a decentralized finance (DeFi) platform, has a market cap of $78.9 million and holds a variety of assets, including Ethereum, Tether, USDC, TRON, Wrapped Bitcoin, and others. Over the past 24 hours, the project’s market cap saw a modest 1.7% increase, mirroring positive movement across several of its held assets, such as Chainlink, Aave, and Sei.
While WLFI maintains that the media reports are baseless, Bloomberg continues to stand by its sources, keeping the debate alive over the role of politics and media influence in shaping narratives within the crypto space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
