- WSJ alleges Trump allies sought Binance.US stake in exchange for CZ pardon; founder refutes ties.
- CZ rejects role as ‘fixer’ for Trump crypto venture, denies facilitating foreign WLF meetings.
Binance founder Changpeng Zhao (CZ) has rejected allegations by The Wall Street Journal (WSJ) that he acted as an intermediary for a cryptocurrency venture tied to former U.S. President Donald Trump.
The March 13 report, citing unnamed sources, claimed Trump allies explored acquiring a stake in Binance.US while seeking regulatory favors for Zhao, who pleaded guilty to U.S. anti-money laundering violations in 2023.
The WSJ published a smear campaign, not a news story. Our Co-Founder @zakfolkman set the record straight:
"The Wall Street Journal just published an article so full of fiction, misdirection, and political spin it could’ve been labeled opinion—if it weren’t masquerading as…
— WLFI (@worldlibertyfi) May 23, 2025
CZ called the article “inaccurate” and “politically motivated” in a social media post, denying involvement with World Liberty Financial (WLF), a firm reportedly backed by Trump associates. The WSJ alleged Zhao connected WLF representatives to officials in Pakistan, Malaysia, and Kyrgyzstan during international trips. It also suggested he sought a presidential pardon from Trump, which Zhao dismissed as baseless.
Another hit piece from Wall Street Journal. WSJ instead of doing journalism, has pretty much resorted to Cunningham’s Law, with negative intentions.
"Cunningham's Law: The best way to get the right answer on the Internet is not to ask a question; it's to post the wrong answer."…
— CZ 🔶 BNB (@cz_binance) May 23, 2025
“This is NOT how journalism should work” Zhao wrote, accusing the WSJ of publishing unverified claims. He clarified he did not introduce WLF to Pakistani official Saqib, whom he met only once. Binance’s communications team reportedly provided corrections to the WSJ before publication, but Zhao argued the outlet ignored them to advance a “misleading” narrative.
The WSJ linked Binance.US to discussions with Trump allies, including real estate developer Steve Witkoff, who allegedly brokered talks. Witkoff, described as a Trump confidant, was said to be divesting from business interests, according to an unnamed administration official. The report also noted Melania Trump’s $40 million documentary deal and Donald Trump’s efforts to fund his presidential library through legal settlements.
4. Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
— CZ 🔶 BNB (@cz_binance) March 13, 2025
Zhao suggested the article reflects broader opposition to U.S. crypto growth.
“Forces in the U.S. want to attack crypto leaders and the pro-crypto administration,” he wrote, without specifying entities.
The WSJ additionally implied Zhao cooperated with the Department of Justice against Tron founder Justin Sun, though no evidence was provided.
Binance.US, launched in 2019, has faced regulatory scrutiny, including a 2023 settlement requiring Zhao to step down as CEO. His sentencing, delayed to October 2024, could include up to 18 months in prison. The WSJ claims arrive as crypto becomes a wedge issue in U.S. elections, with Trump recently embracing digital assets amid fundraising efforts.
The report’s reliance on anonymous sources and Zhao’s rebuttal underscore challenges in verifying claims about private negotiations. While political ties between crypto firms and policymakers are not uncommon, the allegations highlight escalating tensions as regulators weigh stricter oversight.
The WSJ did not clarify whether Trump’s team pursued a Binance.US stake or if Zhao received concessions. For now, the dispute remains a clash of narratives, with Zhao framing it as a battle for crypto’s future in America.
