Changpeng Zhao has dismissed a Wall Street Journal (WSJ) report suggesting he is discussing an investment deal with the family of US President Donald Trump in Binance.US, the American division of the global Binance crypto exchange.
On March 13, Zhao took to X to refute the claims, calling the article an attempt to undermine both the US president and the crypto industry. He stressed that he had no involvement in any discussions regarding Binance.US.
The former Binance CEO wrote:
“They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report. Fact: I have had no discussions of a Binance US deal with … well, anyone.
Zhao also suggested that lingering anti-crypto sentiment from the previous US administration played a role in the report, saying:
“Feels like the article is motivated as an attack on the President and crypto, and the residual forces of the ‘war on crypto’ from the last administration are still at work.”
On the issue of a presidential pardon, the former Binance CEO stated:
“No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge.”
WSJ report
According to WSJ, President Trump’s family is allegedly exploring an investment in Binance.US.
The report further claimed that these discussions included the possibility of a presidential pardon for Zhao, who pleaded guilty to federal violations in late 2023.
Zhao’s plea agreement led to a $4.3 billion settlement for Binance and a four-month prison sentence for him. A presidential pardon could help clear legal obstacles for Binance and aid its global expansion.
WSJ also alleged that the Trump family could channel its investment through its DeFi venture, World Liberty Financial (WLF). Additionally, the report linked Steve Witkoff, a WLF executive and Trump’s advisor on global negotiations, to the discussions.
Meanwhile, this report emerges at a time when Binance.US fortunes have greatly improved in the US. The exchange recently resumed USD deposits and withdrawals for its US customers and also saw its legal tussle with the US Securities and Exchange Commission (SEC) paused for 60 days.
CZ’s poor relationship with WSJ
Zhao has publicly criticized the WSJ multiple times for what he claims are false or misleading reports about him and Binance.
Zhao responded to a WSJ article alleging closer ties between Binance and Binance.US than previously disclosed. The report was based on leaked Telegram messages and interviews with unnamed staff. In response, Zhao tweeted “4,” referencing his earlier instruction to his followers to ignore “FUD, fake news, attacks, etc.” This became a meme within the crypto community.
Zhao has consistently accused legacy media outlets, including the WSJ, of spreading FUD about Binance and the broader crypto industry. He has repeatedly urged his followers to disregard such reports, framing them as sensationalist or biased against crypto.
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