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 take care of 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 at present, saying the story was utterly pretend and accusing the media of attempting to control public notion in opposition to 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 yr, aiming to re-enter the U.S. market after the corporate’s authorized troubles.
The report prompt 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 stated that Steve Witkoff, a longtime Trump affiliate who’s at present 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 bought the details improper. Greater than 20 individuals 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 in all probability requested a whole lot of individuals to get 20 to achieve out to me. They tried laborious to make a narrative to report,’” CZ wrote.
He made it clear that he had by no means mentioned any Binance US take care of 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 related imprecise allegations. However CZ known as them out too. “Bloomberg was the ‘one other media’ in my earlier submit. They only 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 mainly admitted that their entire article is only imaginary. Is that this what ‘information’ has turn into?”
He additionally denied any connection to World Liberty Monetary or the individuals talked about within the WSJ article. “Reality: I/Binance haven’t 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 stories
CZ took the chance to remind everybody about Bloomberg’s monitor document 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 had been improper to jot 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 quilt 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 title, a transfer CZ known as out.
“Their English apology doesn’t even say ‘Bloomberg’ as soon as. However should 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 in opposition to him at present. “Even after that entire two-year authorized battle, they’re nonetheless at it.”
To wrap up his submit, CZ took a ultimate jab at each WSJ and Bloomberg, mentioning that: “On the brilliant facet, we bought two conventional (anti-Trump, anti-crypto) media shops all considering I ought to get a pardon. Inshallah!”
