Binance Founder Zhao Changpeng Denies WSJ Allegations, Claims Negative Intent
Binance founder Zhao Changpeng (CZ) publicly refuted recent reports from the Wall Street Journal (WSJ) regarding his involvement in the World Liberty Financial (WLFI) project on May 23. The media outlet claimed that CZ acted as a “middleman” or “coordinator” associated with the Trump family, assisting in their overseas activities. Zhao Changpeng dismissed these allegations as filled with “errors and negative assumptions” and considered them a deliberate attack on cryptocurrency and its supporters.
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
Core Allegations from the Wall Street Journal and CZ’s Strong Rebuttal
According to the Wall Street Journal’s report, its core allegation is that CZ served as a “middleman” or “coordinator” for the Trump family’s cryptocurrency venture, World Liberty Financial (WLFI). It claimed that he not only assisted the team with overseas travel but also introduced Mr. Sagib to the WLFI team. The report noted:
“We understand that CZ actually played a coordinating role in the World Liberty Financial team’s overseas travel… In recent months, CZ met with government officials from Pakistan, Malaysia, and Kyrgyzstan… We understand that CZ subsequently introduced Mr. Sagib to the World Liberty Financial team, and a week after his visit, World Liberty appointed Mr. Sagib as an advisor. On April 26, the WLFI team arrived in Pakistan to sign a memorandum with the government.”
The report also quoted a spokesperson for World Liberty stating that Zhao Changpeng is friends with WLFI founder Zach Witkoff but denied that Zhao Changpeng played any coordinating role. However, Zhao Changpeng directly countered these claims in his post on the X platform:
“I am not a middleman for anyone. I did not introduce Mr. Sagib to the WLFI team. I did not facilitate any introductions for World Liberty’s overseas travels.”
CZ further emphasized that the WLFI team already knew Mr. Sagib, and he personally met Mr. Sagib for the first time in Pakistan.
CZ’s Interpretation of the Report’s Motives
CZ harshly criticized the Wall Street Journal’s report, arguing that it is filled with inaccuracies and baseless speculation, characterizing it as a narrative with negative intent. He referenced “Cunningham’s Law” to describe the WSJ’s approach, suggesting that the outlet may be attempting to provoke correct information through the publication of potentially erroneous content, asserting that this is not proper journalism.
Moreover, CZ further speculated on the motivation behind the report, believing that the Wall Street Journal might merely be a mouthpiece reflecting certain domestic forces in the U.S. intending to obstruct the country’s development as a cryptocurrency hub while attacking cryptocurrency, global cryptocurrency leaders, and supportive governments.
Background of the Incident: Connections Between WLFI, the Trump Family, and Binance
The background of this incident involves potential connections between World Liberty Financial (WLFI) and the family of former U.S. President Donald Trump, as well as the company’s active positioning in the cryptocurrency sector, such as plans to launch the stablecoin USD1 and its involvement in facilitating an investment by an Emirati venture capital firm in Binance.
Although Zhao Changpeng has previously denied WSJ reports regarding the Trump family exploring the acquisition of Binance US shares, there are indeed connections between WLFI and Binance. For instance, Zhao Changpeng and WLFI founder Zach Witkoff have had public meetings, reportedly discussing the global expansion of cryptocurrency adoption. Zhao Changpeng himself has acknowledged some prior meetings but has consistently expressed concern that the media may negatively distort these normal business interactions.
