Gushiken Yona
Binance CEO Changpeng Zhao (CZ) unleashes a furious counterattack against the mainstream media (MSM) on Thursday, accusing news outlets, particularly The Wall Street Journal and Bloomberg, of publishing “baseless hit pieces” driven by a coordinated anti-crypto agenda. The explosive allegations come in response to recent reports suggesting a potential deal between the Trump family and Binance.US, alongside a simultaneous push for a presidential pardon for the Binance founder.
CZ Accuses Media of Paid Smear Campaign
The controversy erupted following reports in the Wall Street Journal and Bloomberg, which, relying heavily on anonymous sources, claimed that representatives of U.S. President Trump’s family had engaged in discussions to acquire a stake in Binance’s U.S. arm, Binance.US.
The reports further suggested that Ziao, who previously served a four-month prison sentence after pleading guilty to a charge related to anti-money-laundering regulations, was seeking a pardon from the Trump administration. The articles hinted at a potential, though unconfirmed, quid pro quo.
CZ, however, is not holding back. In a series of fiery posts on X (formerly Twitter), the Binance founder directly refuted the claims, labeling them “FUD x2” (Fear, Uncertainty, and Doubt, multiplied) and characterizing the articles as “baseless hit pieces.”
He emphatically stated, “I have had no discussions of a Binance US deal with … well, anyone.” He added a sarcastic jab, “No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single BSA charge.”
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The accusations did not go unanswered by CZ’s followers, one of whom directly questioned the media’s motives. When asked, “cz why do you think these outlets keep running with vague, unverified claims despite repeatedly being proven wrong?” CZ responded with a pointed question of his own: “They might be getting paid to do so?”
CZ contends that this alleged media campaign is part of a broader “war on crypto,” orchestrated by established financial interests threatened by the rise of decentralized currencies. He sees the reports as an “attack on the President and crypto,” suggesting that the “residual forces” of the previous administration’s anti-crypto stance are still at work.
CZ Points to Previous Bloomberg Defamation Lawsuit
This isn’t the first time CZ clashed with Bloomberg. In a pointed historical reference, he highlighted a previous defamation lawsuit against the publication. In July 2022, Bloomberg Businessweek published a piece that, in its Chinese version, labeled CZ’s business a “Ponzi scheme.”
A subsequent lawsuit resulted in a partial apology, published discreetly on Bloomberg’s Hong Kong company’s corporate website, not on the main Bloomberg site where the original article appeared. Notably, the English version of the apology omitted the name “Bloomberg.”
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CZ points to this history as evidence of a persistent pattern of biased reporting: “Even after that whole 2-year legal saga, they are still writing baseless hit pieces against me today.”
The battle lines are drawn. CZ’s accusations of a financially motivated, anti-crypto media campaign raise serious questions about journalistic integrity and the forces arrayed against the cryptocurrency industry.
Whether these claims are substantiated or not, CZ’s defiant stance and willingness to directly confront major media outlets signal a continued fight for the future of digital finance.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
