Summary
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Market Optimism & XRP Speculation: Market sentiment is optimistic, potentially driven by speculation that the SEC might reclassify XRP as a commodity.
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WLFI & Binance Partnership Rumors: Persistent allegations are circulating about a possible partnership between World League Football, Inc. (WLFI), linked to Donald Trump, and cryptocurrency exchange Binance.
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CZ’s Denials: Binance’s former CEO, Changpeng Zhao (CZ), has strongly denied these rumors, refuting any business ties with WLFI or requests for a presidential pardon.
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Bloomberg’s New Reports: Fresh reports from Bloomberg News, citing inside sources, indicate that WLFI and Binance engaged in conversations about a collaborative venture.
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Stablecoin Discussion: These alleged discussions included considering the creation of a USD-backed stablecoin
Against a backdrop of market optimism potentially fueled by speculation that the Securities and Exchange Commission (SEC) might reclassify XRP as a commodity, persistent allegations are circulating concerning World League Football, Inc. (WLFI), an entity associated with former President Donald Trump, and the cryptocurrency exchange Binance.
These rumors, centered on a possible partnership, continue to surface despite emphatic denials from Changpeng Zhao (CZ), Binance’s former CEO, who has refuted suggestions of any business entanglements or requests for presidential clemency.
Recently, fresh reports have emerged, adding another layer to the ongoing narrative surrounding potential links between WLFI and Binance, even as CZ has adamantly disclaimed such connections.
Bloomberg News, citing individuals purportedly with inside knowledge, indicated that conversations exploring a collaborative venture took place.
These discussions, it’s alleged, included considerations for the creation of a stablecoin backed by the US dollar. Crucially, the Bloomberg account makes no assertion of direct participation by Donald Trump in these discussions.
These reports follow prior publications in The Wall Street Journal, which posited that members of the Trump family contemplated acquiring an equity stake in Binance. US.
CZ’s Strong Denials & Bloomberg Reports Alleged Discussions
The same Wall Street Journal article also claimed that CZ had sought a preemptive presidential pardon. CZ reacted swiftly and vigorously to these earlier reports, categorically denying any discussions regarding a deal with Binance and dismissing the article’s content as politically motivated and inaccurate.
However, it is notable that CZ’s denials were largely confined to his personal actions, leaving room for interpretation regarding the broader spectrum of potential interactions between Binance and Trump-affiliated groups.
Bloomberg has subsequently reinforced its original reporting, now citing four anonymous sources who maintain that WLFI actively investigated a potential partnership with Binance.
According to these sources, WLFI, identified as a decentralized finance (DeFi) initiative with Trumpian associations, considered both the development of a stablecoin and capital investment into Binance. US.
While WLFI’s official website confirms Eric Trump’s role as a board manager and discloses that certain members of the Trump family possess WLFI tokens, no official connection between former President Trump and the day-to-day operations of the project has been publicly established.
CZ has persistently rebutted these allegations, characterizing Bloomberg’s reportage as an unsubstantiated smear campaign and asserting that Binance lacks any commercial relationship with WLFI.
He further clarified that Binance has never acquired any WLFI tokens, a claim that Bloomberg’s reporting had not in fact made.
Adding complexity to the situation, Steve Witkoff, a co-founder of WLFI and a known associate of Donald Trump, was reportedly present at the Bitcoin MENA 2024 event where CZ was a speaker.
Bloomberg’s sources suggest a meeting occurred between the two at this event; however, CZ has offered neither confirmation nor explicit denial regarding this purported interaction.
Also Read: Trump-backed WLFI token raises $5 million despite technical problems
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