Binance’s CZ Hits Back at WSJ Over Trump Pardon Allegations
Binance’s former CEO, Changpeng “CZ” Zhao, has fiercely denied claims made by the Wall Street Journal that Donald Trump’s team explored acquiring a stake in Binance.US while CZ sought a presidential pardon.
The explosive report, which suggested that Trump’s associates had secret discussions about investing in Binance.US, was swiftly dismissed as fiction by CZ himself.
Taking to social media, the crypto billionaire accused the WSJ of twisting facts and fishing for a sensationalist story, adding that the article felt more like an attack on Trump and the crypto industry than a legitimate investigation.
What Did the WSJ Claim?
The WSJ report alleged that Trump’s advisers were looking into securing a stake in Binance.US, potentially giving them influence over one of the world’s biggest crypto exchanges. The article also suggested that CZ was desperate for a presidential pardon, implying he sought a political escape from ongoing legal battles.
However, no concrete evidence has been provided to support these claims, and sources within Binance have flatly denied any such discussions ever took place.
CZ Strikes Back
In a strongly worded response, CZ dismissed the claims as outright falsehoods, saying:
"No talks ever happened. This article is fishing for a scandal that doesn’t exist."
A spokesperson for Binance echoed this sentiment, stating that Binance.US remains independent and has never engaged in political deal-making of this nature.
Crypto Industry Backs CZ
CZ’s rebuttal has been met with strong support from the crypto community, with many viewing the WSJ’s article as part of a wider media campaign against digital assets.
A leading crypto analyst commented:
"Traditional financial institutions and media outlets have long been hostile to crypto. This feels like another attempt to stir controversy where there is none."
Political and Market Implications
The timing of the WSJ’s report is notable, as Trump has recently expressed support for the crypto industry, even proposing altcoins for a U.S. crypto reserve. Some industry insiders believe the article could be an attempt to undermine both Trump’s pro-crypto stance and Binance’s credibility.
For now, there is no official response from Trump’s camp, but with Binance already under intense regulatory scrutiny, this latest episode only adds to the ongoing battle between crypto and traditional finance.
Whether the WSJ has more evidence to back its claims remains to be seen, but for now, CZ is standing firm and fighting back.