Changpeng Zhao Denies Investment Deal with Trump Family in Binance.US
Changpeng Zhao, the former CEO of Binance, has rejected claims made in a Wall Street Journal (WSJ) report that suggested he is in talks for 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 emphasized that he had no involvement in any discussions regarding Binance.US.
Zhao’s Response
“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 pointed out that the report may be influenced by anti-crypto sentiments from the previous US administration, suggesting that there are residual forces of the ‘war on crypto’ at work.
“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.”
Regarding the issue of a presidential pardon, Zhao 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 Summary
- WSJ reported that President Trump’s family is allegedly considering an investment in Binance.US.
- The report mentioned discussions about a possible presidential pardon for Zhao, who pleaded guilty to federal violations in late 2023.
- Zhao’s plea agreement resulted in a $4.3 billion settlement for Binance and a four-month prison sentence for him.
- A presidential pardon could potentially clear legal obstacles for Binance and aid its global expansion.
- The Trump family could potentially invest through its DeFi venture, World Liberty Financial (WLF), as per the report.
- The report linked Steve Witkoff, a WLF executive and Trump’s advisor on global negotiations, to the discussions.
CZ’s Strained Relationship with WSJ
Zhao has criticized the WSJ multiple times for what he believes are false or misleading reports about him and Binance.
In response to a WSJ article alleging closer ties between Binance and Binance.US, Zhao tweeted “4,” referencing his earlier instruction to ignore “FUD, fake news, attacks, etc.” This tweet became a meme within the crypto community.
He has consistently accused legacy media outlets, including the WSJ, of spreading FUD about Binance and the broader crypto industry. Zhao has urged his followers to disregard such reports, framing them as sensationalist or biased against crypto.
