Trump-Related Project Allegations Rejected by CZ
Binance's co-founder and former CEO, Changpeng Zhao (CZ), vehemently denied allegations linking him to World Liberty Financial (WLFI), a decentralized finance (DeFi) venture with ties to the Trump family. In a rebuttal on the social media platform X, CZ described a Wall Street Journal (WSJ) report as "baseless and malicious."
The WSJ report claimed that Zhao had a direct role in WLFI, even organizing some international events. However, Zhao asserted that he had no connection with WLFI in Pakistan and that all the claims were based on false assumptions. He noted that his acquaintance with Pakistani official Saqib and the WLFI team predated his own encounter with Saqib during that trip.
CZ, referring to himself as "not anyone's middleman," emphasized that he never acted as a facilitator in Zach Witkoff's overseas visits. He also criticized WSJ for acting as a mouthpiece for crypto opponents.
The WSJ report questioned how WLFI managed to transform diplomatic connections into private crypto investments. One of the project's backers, Steve Witkoff, served as a special representative for the Middle East in the Trump administration, while his son Zach Witkoff was involved in a $2 billion crypto deal. The report highlighted the potential overlap between public duties and private crypto interests.
CZ accused the WSJ of intentionally distorting facts to fit an anti-crypto narrative and labeled the report as unfounded and politically motivated. He pointed out that WSJ had previously published inaccurate reports about him, suggesting that this latest report was part of a deliberate smear campaign.
In response to the allegations, WLFI's co-founder, Zak Folkman, also denied the claims, labeling them "not only false, but laughable." Both WLFI and CZ maintain that their relationship was limited to friendship and not to any official or unofficial role in advancing WLFI’s interests abroad.
The controversy sparked a debate regarding the intersection of politics and cryptocurrency, with some commentators questioning the motivations behind WSJ's reporting and the broader implications for the crypto industry's relationship with political figures. Binance and CZ continue to face regulatory scrutiny, but CZ remains firm in his denial of any improper or intermediary role concerning WLFI.
Binance's co-founder, Changpeng Zhao, criticized the Wall Street Journal for insinuating that he had a direct role in World Liberty Financial (WLFI), stating that both his association with WLFI and the WSJ report were based on false assumptions. Zhao further expressed that technology, particularly blockchain, plays a crucial part in the future of finance and business, and these allegations could tarnish the reputation of the burgeoning cryptocurrency industry.
