Coinbase denies any involvement in the Bloomberg story linking Binance to Trump Coin, calling it 'pure misinformation.'
Binance, associated with USD1 stablecoin, faces rumors of coding its smart contract and seeking a presidential pardon for founder Changpeng Zhao.
Allegations suggest Coinbase as the tipster behind the Bloomberg report, speculating on competitive motives with Binance's potential growth in the US.
Both Binance and Coinbase are amidst a brewing controversy with legal threats, as uncertainty remains over the source of the claims and potential regulatory implications.