Binance CEO Changpeng ‘CZ’ Zhao is looking out mainstream media for spreading false tales about him and Binance US.
The Wall Road Journal (WSJ) printed 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 submit immediately, saying the story was utterly faux 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 mentioned 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 steered that the deal may have gone by World Liberty Monetary (WLF), a crypto enterprise linked to the Trump household that launched in September.
The article additionally mentioned 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 supply 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 utterly shut down the WSJ report, calling it fabricated and saying the journalists behind it had been determined to discover a scandal.
“Sorry to disappoint,” CZ wrote. “The WSJ article obtained the details incorrect. Greater than 20 folks advised me they had been requested by the WSJ (and one other media) if they might verify that I made some deal for a pardon. They most likely requested a whole lot of individuals to get 20 to succeed in out to me. They tried onerous 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 ‘conflict on crypto’ from the final administration are nonetheless at work,” CZ mentioned.
Bloomberg then adopted up with their very own report, making comparable imprecise allegations. However CZ known as them out too. “Bloomberg was the ‘one other media’ in my earlier submit. They simply printed 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 end in any transactions or ventures.’”
“‘The substance of the assembly with Zhao isn’t clear.’ They principally admitted that their entire article is solely imaginary. Is that this what ‘information’ has turn into?”
He additionally denied any connection to World Liberty Monetary or the folks talked about within the WSJ article. “Reality: I/Binance haven’t any enterprise offers with WLF or the folks talked about of their article. We additionally didn’t purchase any of the WLF cash.”
CZ reminds Bloomberg of its historical past of false reviews
CZ took the chance to remind everybody about Bloomberg’s monitor document of false reporting about him. Again in July 2024, Bloomberg needed to challenge 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 operating a Ponzi scheme.
“In our 250th challenge (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 had 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 triggered to Mr. Zhao and Binance, the group he based,” Bloomberg admitted.
However CZ identified the hypocrisy in how Bloomberg dealt with the apology. As a substitute of publishing it in the identical high-profile method as the unique false report, Bloomberg buried the apology on a company web site.
“They printed 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 mentioned, ‘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 prevented mentioning their very own identify, a transfer CZ known as out.
“Their English apology doesn’t even say ‘Bloomberg’ as soon as. However in case you Google Translate their Chinese language model, it clearly says ‘Bloomberg Businessweek/Chinese language Version Apology Discover’ on the prime,” CZ mentioned.
Regardless of all this, Bloomberg remains to be publishing what CZ calls baseless hit items towards him immediately. “Even after that entire two-year authorized battle, they’re nonetheless at it.”
To wrap up his submit, CZ took a last jab at each WSJ and Bloomberg, stating that: “On the intense aspect, we obtained two conventional (anti-Trump, anti-crypto) media shops all pondering I ought to get a pardon. Inshallah!”
