Former Binance CEO Changpeng Zhao (CZ) has categorically denied allegations suggesting he acted as a “fixer” in dealings involving World Liberty Financial (WLF). CZ has criticized the Wall Street Journal (WSJ), claiming it has published a “hit piece” based on false information and negative intent.
In a May 23 post on X, Zhao highlighted that the media outlet’s reporting exemplified a textbook case of “Cunningham’s Law.” He noted that prior to the article’s publication, his company’s PR team had addressed several questions posed by WSJ, which were based on incorrect assumptions. “We told them there were numerous inaccuracies and unfounded inferences,” he stated, emphasizing that the story’s foundation of negative intentions made it impossible to correct.
Among the assertions made in the WSJ inquiry were claims that Zhao assisted WLF in arranging meetings with government officials in Pakistan, Malaysia, and Kyrgyzstan, including an introduction to Pakistani official Mr. Saqib. A week after Zhao’s visit to the region, WLF named Mr. Saqib as an adviser, leading to further speculation. The Journal also noted that on April 26, WLF had traveled to Pakistan to sign a Memorandum of Understanding (MOU) with the government.
However, Zhao refuted these claims, asserting, “I am not a fixer for anyone.” He clarified that he did not connect Mr. Saqib with the WLF team, stating that they were already acquainted prior to his involvement. Furthermore, Zhao remarked that he met the Pakistani official for the first time during his recent visit.
The Binance co-founder further suggested that the WSJ article reflects a more extensive agenda aimed at hindering progress within the cryptocurrency industry. He alleged, “There are forces in the U.S. that want to hinder efforts in making the U.S. the capital of crypto. They want to attack crypto, global crypto leaders, and the pro-crypto administration.”
A History of False Claims
This is not the first time Zhao has accused the WSJ of inaccuracies. In March, the publication reported that Trump’s family was in discussions to invest in Binance.US and suggested that Zhao was pursuing a presidential pardon. At that time, he criticized the article as politically motivated and an attempt to undermine both the President and the cryptocurrency industry. However, he later confirmed that he had formally applied for clemency from Trump.
More recently, Zhao dismissed allegations from a different news piece asserting that he had agreed to provide evidence against Tron founder Justin Sun in exchange for a plea deal with the U.S. Department of Justice (DOJ). Zhao indicated that this report could be linked to lobbying efforts aimed at damaging his and Binance’s reputation. In response, Sun expressed his disbelief regarding the rumors, referring to Zhao as his “mentor and close friend.”
The recent developments exemplify the ongoing challenges faced by leaders in the cryptocurrency sector amidst media scrutiny and regulatory pressures. As the industry continues to evolve, the discourse surrounding its key figures remains fraught with controversy and speculation.
The information presented in this post aligns with recent articles such as CZ Denies ‘Fixer’ Role in World Liberty Financial Deals, which appeared on CryptoPotato.
