Binance CEO Responds to Allegations by The Wall Street Journal
In a recent development that has stirred the crypto industry, Binance’s co-founder and former CEO, Changpeng Zhao, commonly known as CZ, has voiced his disapproval of The Wall Street Journal (WSJ). He claims that the publication is targeting both him personally and the broader cryptocurrency sector, suggesting that certain entities in the United States aim to impede the nation’s progress in this innovative field.
CZ Refutes ‘Fixer’ Allegations
On a recent Friday, CZ took to social media to express his dissatisfaction with what he perceives as another negative portrayal by The WSJ, labeling it as an anti-crypto agenda. According to Zhao, the news outlet has adopted a strategy akin to “Cunningham’s Law,” characterized by negative connotations rather than engaging in genuine journalism.
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Zhao explained that a few days prior, The WSJ reached out to him through Binance’s public relations team, posing numerous questions based on incorrect and negative premises. These inquiries contained “numerous inaccuracies and unfounded inferences,” which Zhao’s team promptly addressed.
The WSJ had reported that Zhao was instrumental in facilitating introductions for the Trump family’s World Liberty Financial (WLFI) crypto venture’s international dealings, specifically naming co-founder Zach Witkoff. A spokesperson from WLFI confirmed the friendship between Zhao and Witkoff but denied that Zhao served as a “fixer.”
In response, CZ shared excerpts from the communication he received, refuting claims of acting as a liaison for WLFI. He stated, “I am not a fixer for anyone. I did NOT ‘connect Mr. Saqib with the WLF team’.” Zhao clarified that Witkoff and Mr. Saqib were already acquainted, unlike him, who only met Mr. Saqib during a visit to Pakistan.
Challenges Facing the US Crypto Industry
Changpeng Zhao contends that there are forces within the United States actively working against the country’s potential to become a global leader in cryptocurrency. He believes these forces are attempting to undermine the industry and its international figures, with The WSJ serving as their “mouthpiece.”
The WSJ’s report highlighted concerns over the potential blending of governmental negotiations with private business ventures, suggesting a redefinition of diplomatic protocols by some foreign nations aiming to establish connections with the Trump administration. The report also discussed how Steve Witkoff and Zach Witkoff might have contributed to this overlap of private and public interests, particularly in relation to World Liberty Financial’s (WLFI) recent business deal involving a $2 billion investment from MGX.
David Wachsman, a spokesperson for WLFI, assured The WSJ that the company’s business dealings are entirely separate from the US government. He emphasized that WLFI lacks the authority or insights necessary to engage in official government discussions. Wachsman further clarified that implying any conflict of interest due to WLFI and Ambassador Witkoff’s simultaneous presence in the same country is inaccurate. Steve Witkoff holds the position of United States Special Envoy to the Middle East and is a co-founder of WLFI with his son.
The WSJ also referenced a previous article that implicated the elder Witkoff in discussions between the Trump family and Binance. The article, reported by Bitcoinist, claimed ongoing talks regarding a potential financial stake in Binance US by representatives of then-President Donald Trump’s family since 2024. This was allegedly part of Binance’s strategy to re-enter the US market and secure an official pardon for its former CEO. However, Zhao dismissed these “pardon deal” allegations, asserting, “The WSJ article got the facts wrong.”
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