Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed again in opposition to a report in The Wall Street Journal, calling it a “hit piece” crammed with inaccuracies and detrimental assumptions.
In an X submit, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Financial, the decentralized finance mission backed by a enterprise entity affiliated with US President Donald Trump. Trump’s sons — Eric and Donald Jr. —are concerned in the administration of the corporate.
Zhao mentioned the WSJ article portrayed him as appearing as a “fixer” for the WLF workforce and its co-founder Zach Witkoff throughout overseas journeys.
The article prompt Zhao facilitated introductions and conferences for WLF leaders throughout overseas journeys, together with a go to to Pakistan that reportedly resulted in a memorandum of understanding with a neighborhood official.
“I’m not a fixer for anybody,” Zhao mentioned, firmly denying that he related Pakistani official “Mr. Saqib” with WLF or organized any engagements overseas. “They had identified one another method again, whereas I solely met with Mr. Saqib for the primary time in Pakistan.”
WSJ studies on Steve and Zach Witkoff
Zhao’s response follows a WSJ investigation highlighting a fancy string of diplomatic and enterprise pursuits involving WLF.
The report raised considerations in regards to the blurred traces between public duties and personal pursuits and targeted on diplomatic and enterprise dealings involving WLF co-founders Steve Witkoff and his son, Zach Witkoff. Steve Witkoff serves because the US Special Envoy to the Middle East beneath the Trump administration, whereas Zach Witkoff has been concerned in securing a reported $2 billion crypto deal.
The report raised questions on whether or not diplomatic efforts overlapped with personal crypto ventures, and implied Zhao could have been trying to curry favor with the Trump administration
On May 6, Zhao confirmed that he’s seeking a pardon from the Trump administration for his earlier cash laundering conviction.
The report additionally highlighted that WLFI, which raised over $600 million in token gross sales, doesn’t disclose the names of all its traders apart from some publicly identified ones like Tron founder Justin Sun, who attended Trump’s memecoin dinner on May 22.
Trump hosted the dinner for the most important traders of his Official Trump (TRUMP) memecoin. Sun, Magic Eden CEO Jack Lu and BitMart CEO Sheldon Xia have been amongst attendees and shared photographs of the occasion.
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Zhao claims the WSJ report is an “assault” on crypto
Zhao claimed the WSJ submitted a listing of questions containing what he described as “unsuitable and detrimental assumptions.” He and his public relations workforce responded by stating a number of factual inaccuracies, he mentioned, however concluded that the article was “constructed on a flawed narrative.”
Zhao slammed the WSJ, calling it a “mouthpiece” for anti-crypto forces in the United States. He mentioned the forces behind the publication wish to hinder efforts to make the US a crypto capital.
“They wish to assault crypto, world crypto leaders and the pro-crypto administration,” CZ claimed, saying the article is a part of a broader effort to stifle the business’s progress in the US.
This shouldn’t be the primary time Zhao has clapped again on the WSJ not too long ago. In an April 11 report, the publication cited nameless sources alleging that Zhao agreed to testify in opposition to Tron founder Justin Sun as he settled with US prosecutors.
CZ dismissed the report, saying that individuals who turn out to be authorities witnesses don’t go to jail and are protected. CZ additionally claimed that somebody paid WSJ staff to smear his title.
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