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.

Binance ex CEO Changpeng Zhao has expressed his stance against scammers following the launch of USD1 by Trump’s crypto business on the BNB chain. He also clarified that the official USD1 is yet to be opened for trading, and urged users to be vigilant against any fraudulent coins.

The Trump-linked WLFI in partnership with crypto market maker Wintermute has been reportedly testing a dollar-backed stablecoin called ‘World Liberty Financial USD1 on Ethereum and BNB Chain. According to on-chain data provider lookonchain, there were interactions between the contract and the wallet associated with the crypto market maker Wintermute.

If we check the Wintermute address that was active at this address, we can see that it is a real Wintermute wallet that actually holds $85M.

The smart contract was deployed 20 days ago. Since then, the contract has seen more than 10k transactions.

The move aligns with Wintermute’s recent announcement, detailing their foray into the US market. USD1’s deployment on March 4, has energized the community as it marks a revival of the Binance chain following a period of downtrend.

Trump’s Crypto Play: Is Binance Involved?

It is worth noting that Binance has expressed its openness to collaborate with the Trump family, either directly or through World Liberty Financial in their proposed business deal. The Trump-backed crypto venture, unveiled in 2024, could serve as a central part of this agreement.

Moreover, Binance founder Changpeng Zhao is seeking clemency from the Trump administration amid ongoing legal challenges in the United States.

As reported by TronWeekly, CZ stated that he would accept a pardon from the current US administration, despite denying any discussions with Trump’s close aides. Previously, reports of CZ’s business dealings with Trump’s WLFI sparked speculation. The Binance ex CEO has refuted these claims, asserting that the media is attempting to fabricate a narrative.