Former Binance CEO, Changpeng “CZ” Zhao has refuted claims in a recent The Wall Street Journal report alleging his involvement in Trump-backed World Liberty Financial (WLF). The co-founder of the world’s largest cryptocurrency exchange by trading volume bemoaned the allegation on Friday through a post on his official X page.
In the post, CZ stated that the article described him as a middleman for the WLF team and its co-founder Zach Witkoff during their International tour. Zhao revealed that the WSJ team is on the bankroll of an individual who aims to soil his name.
The response surfaced following a WSJ investigative report that pointed to the crypto mogul’s involvement in various diplomatic and business negotiations on behalf of WLF. Further, the article indicted Zhao helping the WLF team to secure a memorandum of understanding with a government official in Pakistan during their visit to the country.
Also, WSJ said Zhao is working behind the scenes to establish a good relationship with the Trump administration. Recall that early this month, the former Binance CEO disclosed that he wants the new administration to pardon him for his money laundering conviction.
While accusing Changpeng Zhao of helping the WLF secure a $2 billion crypto deal, the article accused the Trump administration of diffusing public responsibilities with private interest. More so, WSJ explained that Steve Witkoff who’s a co-founder of the WLF is currently serving as the US Special Envoy to the Middle East in the current administration played a huge role in securing the deal.
How CZ responded to the allegations
In response, CZ emphasized that he doesn’t have any connection whatsoever with the Pakistani official and WLF. He denied ever setting up a meeting between the parties, narrating how he only met the official for the first time in Pakistan.
Furthermore, Zhao added that the two parties had known each other for a long time prior to the deal. He went on to establish that the report contains wrong and negative assumptions, emphasizing that the article contained “flawed narrative.”
The former Binance boss described the WSJ as the mouthpiece of those against the advancement of the cryptocurrency sector in the US. Similarly, he declared that the report is an attempt to stop the growing adoption of digital assets in the country and measures to make the US a crypto capital.
Lastly, he stated that the article is aimed against the industry, global crypto leaders and the new administration for its support to digital assets.
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