{"id":12358,"date":"2025-05-23T14:26:42","date_gmt":"2025-05-23T12:26:42","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=12358"},"modified":"2025-05-23T14:26:42","modified_gmt":"2025-05-23T12:26:42","slug":"cz-rebuts-claims-of-being-a-fixer-challenges-wsj-article","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/23\/cz-rebuts-claims-of-being-a-fixer-challenges-wsj-article\/","title":{"rendered":"CZ Rebuts Claims of Being a ‘Fixer’, Challenges WSJ Article"},"content":{"rendered":"

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Binance co-founder and previous CEO Changpeng \u201cCZ\u201d Zhao has countered a report from The Wall Street Journal, labeling it a \u201chit piece\u201d rife with inaccuracies and detrimental assumptions.\u00a0<\/p>\n

In an X post, Zhao condemned<\/a> the outlet\u2019s depiction of his supposed association with World Liberty Financial, the decentralized finance initiative supported by a business entity linked to US President Donald Trump. Trump’s sons \u2014 Eric and Donald Jr. \u2014are engaged in the company’s management.<\/p>\n

Zhao indicated that the WSJ piece<\/a> depicted him as functioning as a \u201cfixer\u201d for the WLF team and its co-founder Zach Witkoff during international excursions.\u00a0<\/p>\n

The report implied Zhao facilitated connections and discussions for WLF leaders abroad, including a trip to Pakistan that reportedly led to a memorandum of understanding with a local authority.<\/p>\n

\u201cI am not a fixer for anyone,\u201d Zhao asserted, firmly denying having connected Pakistani official \u201cMr. Saqib\u201d with WLF or arranged any foreign engagements. \u201cThey had known each other quite some time, whereas I only met with Mr. Saqib for the first time in Pakistan.\u201d\u00a0<\/p>\n

Source: <\/em>Changpeng Zhao<\/em><\/a><\/figcaption><\/figure>\n

WSJ details on Steve and Zach Witkoff<\/h2>\n

Zhao\u2019s reaction follows a WSJ examination emphasizing<\/a> a convoluted web of diplomatic and business interests related to WLF.\u00a0<\/p>\n

The report raised alarms about the indistinct boundaries between public responsibilities and private interests, focusing on diplomatic and commercial engagements involving WLF co-founders Steve Witkoff and his son, Zach Witkoff. Steve Witkoff acts as the US Special Envoy to the Middle East under the Trump administration, while Zach Witkoff has been engaged in securing a reported $2 billion crypto arrangement<\/a>.<\/p>\n

The report questioned whether diplomatic initiatives overlapped with private crypto endeavors, suggesting Zhao might have been trying to gain favor with the Trump administration.<\/p>\n

On May 6, Zhao affirmed that he is pursuing a pardon<\/a> from the Trump administration for his previous money laundering conviction.\u00a0<\/p>\n

The report also noted that WLFI, which raised more than $600 million<\/a> in token sales, does not reveal the identities of all its backers apart from some publicly recognized individuals like Tron founder Justin Sun, who participated in Trump\u2019s memecoin dinner<\/a> on May 22.\u00a0<\/p>\n

Trump hosted the dinner for the primary investors of his Official Trump (TRUMP) memecoin. Sun, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia were among those present and shared snapshots from the occasion.<\/p>\n

Related: <\/strong><\/em>Binance achieves legal victory as UK court partially dismisses Bitcoin SV lawsuit<\/strong><\/em><\/a><\/p>\n

Zhao asserts the WSJ report is an \u201cassault\u201d on crypto\u00a0<\/h2>\n

Zhao asserted that the WSJ submitted a set of questions containing what he referred to as \u201cincorrect and damaging assumptions.\u201d He and his public relations team reacted by highlighting multiple factual inaccuracies, he noted, but concluded that the article was \u201cconstructed on a flawed narrative.\u201d<\/p>\n

Zhao criticized the WSJ, describing it as a \u201cmouthpiece\u201d for anti-crypto forces within the United States. He stated that the forces behind the publication aim to undermine efforts to establish the US as a crypto hub.\u00a0<\/p>\n

\u201cThey wish to target crypto, global crypto leaders, and the pro-crypto administration,\u201d CZ claimed, asserting that the article forms part of a wider initiative to suppress the sector’s expansion in the US.<\/p>\n

This is not the initial occasion Zhao has responded to the WSJ recently. In an April 11 report, the outlet cited anonymous sources claiming that Zhao consented to testify<\/a> against Tron founder Justin Sun as he resolved matters with US prosecutors.\u00a0<\/p>\n

CZ dismissed the account, stating that individuals who become government witnesses do not end up in prison and are protected. CZ also asserted that someone compensated WSJ staff to tarnish his reputation.<\/p>\n

https:\/\/www.youtube.com\/watch?v=VKc5QcRvdc0[\/embed><\/p>\n

Magazine: <\/strong><\/em>Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express<\/strong><\/em><\/a><\/p>\n