World Liberty Financial (WLFI), the DeFi project linked to the U.S. President Donald Trump and his family, has strongly refuted reports that it held discussions with Binance to launch a U.S. dollar-backed stablecoin. The project took to X to dismiss the March 13 Bloomberg report, calling it a politically motivated attack on the cryptocurrency industry.
According to Bloomberg, WLFI’s co-founder Steve Witkoff allegedly met with Binance co-founder Changpeng Zhao (CZ) at the Bitcoin MENA 2024 conference in Abu Dhabi, where they reportedly discussed a stablecoin initiative. The report implied that WLFI and Binance were exploring a potential collaboration to issue a new stablecoin—a claim that WLFI has flatly denied.
In response, WLFI released the public statement rejecting the allegations, criticizing mainstream media outlets—particularly Bloomberg and The Wall Street Journal—for publishing what they described as “agenda-driven journalism.” The WLFI team did not specifically reference Binance or Bloomberg in their rebuttal, instead asserting that their business operations remain transparent and that they are proud to collaborate with leading blockchain protocols.
Alongside its rebuttal, WLFI urged the public to ignore clickbait headlines, emphasizing that official updates from the project should be the only trusted source of information. The team stressed that misleading narratives could damage the credibility of the broader cryptocurrency ecosystem, warning against unverified media speculation.
“For anyone interested in the facts, we encourage you to ignore clickbait and look beyond sensational headlines. Instead, wait to hear directly from us for important updates on what we’re building,” the post stated
Binance’s Position and CEO’s Remarks
Binance’s former CEO, Changpeng Zhao (CZ), also addressed the allegations, stating that he had not engaged in any discussions regarding a Binance.US deal with any party. He further criticized the reports as baseless and speculative, asserting that neither he nor Binance had any business dealings with WLF or its representatives, nor had they acquired any WLF tokens.
“They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report.Fact: I have had no discussions of a Binance US deal with … well, anyone.” CZ posted on X
WLF’s Ongoing Initiatives and Industry Impact
Despite the controversy, WLFI’s market performance remains steady. Arkham Intelligence reported that WLFI’s total market capitalization currently stands at $78.9 million, with notable gains across its portfolio, including Ethereum (ETH), Wrapped Bitcoin (WBTC), Chainlink (LINK), and Aave (AAVE), all showing significant price increases in the last 24 hours.
WLF continues to advance its mission of democratizing access to financial services through decentralized solutions. The project recently concluded a successful token sale, raising approximately $550 million, reflecting robust investor interest and support. Notably, WLF has garnered backing from prominent figures, including members of the Trump family, who have been designated as ambassadors for the project.
Quick Facts:
- World Liberty Financial (WLF) has denied reports of engaging in partnership discussions with Binance, labeling such claims as politically motivated.
- Media outlets alleged that WLF was exploring acquiring a stake in Binance.US or developing a U.S. dollar-backed stablecoin with Binance.
- Binance’s former CEO, Changpeng Zhao, refuted these allegations, stating no discussions or business dealings occurred between Binance and WLF.
- WLF recently raised approximately $550 million in a token sale, with support from notable figures, including members of the Trump family.
