CZ didn't name anyone directly — he retweeted Matt Wallace's Coinbase accusation and called the Bloomberg piece a "hit piece," keeping plausible deniability intact while the narrative does the work for him. Meanwhile Binance is sitting on 85%+ of USD1 supply, which is a far more concrete US re-entry vector than any pardon ever was. Coinbase CLO denied it within hours, but the competitive anxiety is real — if Binance gets full US access again with a Trump-aligned stablecoin already integrated, the market share math gets ugly fast for every domestic exchange that benefited from the 2023 vacuum.

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