Binance CEO Changpeng ‘CZ’ Zhao is looking out mainstream media for spreading false tales about him and Binance US.
The Wall Avenue Journal (WSJ) revealed a report claiming Trump’s household was discussing a monetary cope with Binance US, and that CZ had been pushing for a presidential pardon after his authorized troubles within the U.S.
CZ fired again in an X publish at the moment, saying the story was fully pretend and accusing the media of attempting to govern public notion towards crypto and Trump’s administration.
The WSJ article alleged that Trump’s household had been in talks about taking a stake in Binance US. It stated Binance reached out to Trump allies final 12 months, aiming to re-enter the U.S. market after the corporate’s authorized troubles.
The report instructed that the deal might have gone by means of World Liberty Monetary (WLF), a crypto enterprise linked to the Trump household that launched in September.
The article additionally stated that Steve Witkoff, a longtime Trump affiliate who’s at the moment his prime Center East and Ukraine negotiator, had been concerned within the discussions.
However an administration official denied this, saying Witkoff was already divesting from his enterprise pursuits, and the WSJ failed to offer any concrete proof that the talks led to an precise deal.
CZ shuts down the claims, calls out Bloomberg and WSJ
CZ wasted no time responding. He took to X to fully shut down the WSJ report, calling it fabricated and saying the journalists behind it have been determined to discover a scandal.
“Sorry to disappoint,” CZ wrote. “The WSJ article obtained the info incorrect. Greater than 20 individuals instructed me they have been requested by the WSJ (and one other media) if they may affirm that I made some deal for a pardon. They most likely requested a whole lot of individuals to get 20 to achieve out to me. They tried arduous to make a narrative to report,’” CZ wrote.
He made it clear that he had by no means mentioned any Binance US cope with anybody and added that no felon would flip down a pardon, particularly contemplating he was the one individual in U.S. historical past to serve time for a single BSA cost.
He additionally identified that the story appeared politically motivated, suggesting it was an assault on Trump and crypto.
“Feels just like the article is motivated as an assault on the President and crypto, and the residual forces of the ‘struggle on crypto’ from the final administration are nonetheless at work,” CZ stated.
Bloomberg then adopted up with their very own report, making comparable imprecise allegations. However CZ referred to as them out too. “Bloomberg was the ‘one other media’ in my earlier publish. They only revealed their baseless hit piece after WSJ, with statements like: ‘It’s not clear what stage the discussions have reached or whether or not they’ll lead to any transactions or ventures.’”
“‘The substance of the assembly with Zhao isn’t clear.’ They mainly admitted that their entire article is solely imaginary. Is that this what ‘information’ has change into?”
He additionally denied any connection to World Liberty Monetary or the individuals talked about within the WSJ article. “Truth: I/Binance don’t have any enterprise offers with WLF or the individuals talked about of their article. We additionally didn’t purchase any of the WLF cash.”
CZ reminds Bloomberg of its historical past of false studies
CZ took the chance to remind everybody about Bloomberg’s monitor report of false reporting about him. Again in July 2024, Bloomberg needed to situation a proper apology after CZ sued them for defamation.
The lawsuit stemmed from a 2022 article in Bloomberg Businessweek’s Chinese language version, which falsely claimed that CZ was working a Ponzi scheme.
“In our 250th situation (July 6, 2022), we made the egregious mistake of publishing a canopy web page with a headline that was false and baseless,” Bloomberg’s apology learn.
“We have been incorrect to write down ‘Changpeng Zhao’s Ponzi Scheme.’ We retract and withdraw this offensive assertion with out reservation and apologize unreservedly for any hurt or misery precipitated to Mr. Zhao and Binance, the group he based,” Bloomberg admitted.
However CZ identified the hypocrisy in how Bloomberg dealt with the apology. As an alternative of publishing it in the identical high-profile method as the unique false report, Bloomberg buried the apology on a company web site.
“They revealed their false declare on the duvet of their journal, however their apology was hidden on their HK company web site,” CZ famous. He additionally revealed that the unique headline was modified after he filed the lawsuit.
“The English model of the journal cowl requested, ‘Can … stand the chilly?’ However the Chinese language model stated, ‘Zhao’s Ponzi Scheme.’ After we filed the lawsuit, they modified it to ‘Mysterious CZ’,” the Binance co-founder argued.
Even of their apology textual content, Bloomberg fastidiously averted mentioning their very own identify, a transfer CZ referred to as out.
“Their English apology doesn’t even say ‘Bloomberg’ as soon as. However in the event you Google Translate their Chinese language model, it clearly says ‘Bloomberg Businessweek/Chinese language Version Apology Discover’ on the prime,” CZ stated.
Regardless of all this, Bloomberg continues to be publishing what CZ calls baseless hit items towards him at the moment. “Even after that entire two-year authorized battle, they’re nonetheless at it.”
To wrap up his publish, CZ took a closing jab at each WSJ and Bloomberg, stating that: “On the intense facet, we obtained two conventional (anti-Trump, anti-crypto) media retailers all considering I ought to get a pardon. Inshallah!”
