Michaela
Binance founder Changpeng “CZ” Zhao has criticized the Financial Times and Reuters, accusing the media outlets of poor reporting after they questioned him over the exchange’s alleged connection to a Trump-linked stablecoin.
Key points:
- Binance founder Changpeng “CZ” Zhao accused Financial Times, Reuters, and Forbes of biased reporting, dubbing them part of a “Tinfoil Hat Club.”
- Zhao claimed the outlets sent him nearly identical inquiries about Trump-linked investigations, Binance’s Abu Dhabi investment, and SEC actions.
- He argued the coordinated questions aimed to damage his and Binance’s reputation, highlighting the growing tension between crypto exchanges and global regulators.
In a post on X, Zhao ridiculed the two publications, suggesting they had joined what he called the “Tinfoil Hat Club.” He went on to speculate whether the outlets might share the same ownership behind the scenes.
Zhao said both the Financial Times and Reuters had sent him nearly identical inquiries about an investigation into pardons and dismissed lawsuits from the Trump administration. He claimed the reporters presented their outreach as an effort to provide balance, but ultimately disregarded or misrepresented his responses.
“Two outlets, sent the same FUD script, same deadline. At least change the font, guys,” Zhao wrote. “Journalist diligence = ask my perspective → ignore it → warp it → then ask me to validate fake news about someone else → twist that too. Sounds about right,” he added.
In a separate X post, the Binance founder broadened his criticism to include Forbes, alleging that the three outlets were acting under the influence of a single “puppet master.” Zhao also published screenshots of emails from the publications which sought comment on Binance’s $2 billion investment agreement with Abu Dhabi’s MGX and the Trump-associated World Liberty Financial’s USD1 stablecoin.
One of the emails sent to Zhao also referenced the U.S. Securities and Exchange Commission’s (SEC) decision earlier this year to dismiss a lawsuit against him and Binance.
Zhao’s decision to publish the message publicly signaled his view that the inquiries were not isolated, but rather part of a coordinated effort to damage both Binance and his personal reputation.
The controversy arrives at a time when global crypto markets remain under pressure from shifting regulations, high-profile lawsuits, and uncertain political currents. For Binance, the scrutiny reflects the broader challenges facing exchanges as they balance expansion with heightened oversight from governments and regulators worldwide.
For investors and everyday users, it serves as a reminder that the future of digital finance is being shaped not just by technological innovation, but also by the power struggles, alliances, and narratives unfolding around it.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
