- Binance’s CZ alerted users to scams after the USD1 launch, stating the official token was not yet trading and to avoid fraudulent versions.
- On-chain data shows Wintermute’s involvement with the USD1 stablecoin, launched on BNB Chain, amidst reports of Trump-linked connections.
- Facing US legal issues, CZ expressed willingness to accept a pardon, though the extent of his efforts remains subject to verification.
Binance’s former CEO CZ has warned against scammers after the launch of the USD1 by Trump’s crypto business on the BNB chain. He also clarified that the official USD1 is not yet open for trading, alerting users against trusting fraudulent coins bearing the same name.
Trump-linked WLFI in partnership with Wintermute has been reportedly testing a dollar-backed stablecoin called ‘World Liberty Financial USD1 on Ethereum and BNB Chain. According to lookonchain, there were interactions between the contract and the wallet associated with the crypto market maker Wintermute.
If you check the Wintermute address that was active at this address (https://etherscan.io/address/0xdbf5e9c5206d0db70a90108bf936da60221dc080…), you can see that it is a real Wintermute wallet that actually holds $85M worth.
As per BSCScan, the smart contract was deployed 20 days ago. Since then, the contract has recorded more than 10k transactions, highlighting the significant activity.
The move aligns with Wintermute’s recent announcement, outlining their intention to enter the US market. USD1’s deployment on March 4, has excited the community as it is seen as revival of the Binance chain after a period of downtrend.
Trump’s Crypto Play: Is Binance Involved?
Notably, Binance has expressed its intention to partner with the Trump family either directly or via World Liberty Financial in their proposed business deal. The Trump-backed crypto venture introduced in 2024 will potentially serve as a key element in the deal.
Meanwhile, Binance founder Changpeng Zhao is pushing for clemency with the Trump administration after experiencing legal woes in the United States.
As reported by TronWeekly, CZ, expressed readiness to accept a pardon from the current US administration although he denied having any discussions with Trump’s close aides. Previously, reports of CZ’s business dealings with Trump’s WLFI created quite a stir. The Binance ex CEO has vehemently denied any such business dealings, accusing media of “trying to create a story”.