Changpeng Zhao (CZ), founder and ex-CEO of Binance has denied allegations made by The Wall Street Journal (WSJ) that he acted as a “fixer” for former President Donald Trump’s crypto venture, World Liberty Financial (WLF).
The claims were made in a report published on March 13, which Zhao claims is riddled with “inaccuracies” and is politically motivated.
The WSJ article, citing unnamed sources, alleged that representatives of Trump’s family have been in discussions to acquire a financial stake in Binance.US, the American affiliate of the global cryptocurrency exchange Binance.
The report suggested that Zhao was lobbying the Trump administration for a presidential pardon following his conviction for violating US anti-money-laundering laws, and that he facilitated international connections on behalf of Trump-linked crypto interests.
CZ denies being part of World Liberty Financial negotiations
Zhao, who is known as “CZ” on social media platform X, rebuffed the report in a post on Friday.
“Another hit piece from Wall Street Journal,” he wrote, accusing the outlet of abandoning journalism in favor of what he called “Cunningham’s Law with negative intentions.” Referring to the principle that posting incorrect information often attracts correction, CZ beckoned, “This is NOT how journalism should work.”
WSJ reported that Zhao had introduced WLF representatives to government officials in Pakistan, Malaysia, and Kyrgyzstan, and helped connect WLF with local contacts during their international travels.
The article also read that following Zhao’s alleged involvement, WLF named Pakistani official Mr. Saqib as an adviser after a trip organized with the Binance founder’s help.
CZ denies these assertions, insisting that he was “not a fixer for anyone.”
“I did NOT connect Mr. Saqib with the WLF team. They had known each other way back, whereas I only met with Mr. Saqib for the first time in Pakistan.” He also clarified that he did not make introductions for WLF’s foreign travels and that the publication’s conclusions were based on unfounded inferences.
Zhao reiterated that WSJ had contacted Binance’s PR team with a list of questions based on “wrong and negative assumptions.” Binance supposedly attempted to correct inaccuracies in the inquiry, but the founder argued that the entire premise of the published story ignored the clarification statements the company gave, and was “intentionally misleading.”
WSJ draws links between the Trump family and Binance
According to WSJ, talks between Binance and allies of Trump began last year after the crypto firm sought to reestablish its footprint in the US market.
The report mentioned that the Trump family could acquire a stake in Binance.US either directly or through WLF, a crypto venture launched in September, backed by the Trump family.
One name cited in the report was Steve Witkoff, a close associate of Trump and the administration’s reported negotiator on Middle East affairs and Ukraine. WSJ sources claimed Witkoff was involved in brokering the partnership between Binance and the Trump camp.
Yet, an administration official disputed this claim, stating Witkoff was divesting from his business interests.
“WSJ is just the mouthpiece. There are forces in the US that want to hinder efforts in making the US the capital of crypto. They want to attack crypto, global crypto leaders, and the pro-crypto administration,” Zhao surmised.
The report added that Melania Trump signed a $40 million deal for a documentary, and Donald Trump was pursuing financial settlements from lawsuits that helped fund his presidential library.
WSJ insinuated that Zhao was quietly lobbying for a presidential pardon from Trump and had even offered cooperation in the DOJ’s case against Justin Sun, the founder of Tron. The Binance founder reportedly received a reduced sentence as part of the deal, according to people familiar with the case.
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