Zhao Denies Ties to Trump-Linked Crypto Group
Key Takeaways
- Binance co-founder Changpeng Zhao (CZ) denies any connection to the Trump-affiliated firm World Liberty Financial (WLFI).
- A report by the Wall Street Journal (WSJ) portrayed CZ as a liaison between WLFI and international partners.
- CZ calls the claims a deliberate misrepresentation and strongly rejects all allegations.
- The accusations once again raise questions about the intersection of cryptocurrency and politics.
Background of the Allegations
The Wall Street Journal published an article claiming that Changpeng Zhao played an active role in connecting the organization World Liberty Financial (WLFI) with international contacts. The group is allegedly linked to former U.S. President Donald Trump. According to the report, CZ supported WLFI co-founder Zach Witkoff during overseas trips and helped establish contacts — particularly during a visit to Pakistan.
CZ Responds Publicly to the Allegations
On the platform X (formerly Twitter), CZ directly addressed the accusations. He clarified: “I am not a liaison for anyone. I met Mr. Saqib for the first time in Pakistan. I did not organize or arrange any trips for WLFI.” He described the article as a “targeted attack” and accused the newspaper of deliberately misrepresenting his statements and actions.
Criticism of the Reporting
Zhao’s PR team pointed out several factual errors in the WSJ article. The claim that CZ assisted WLFI with international contacts is unsubstantiated and inaccurate. Additionally, the WSJ is accused of deliberately targeting the crypto industry. Zhao stated: “They want to attack crypto, global crypto leaders, and a crypto-friendly government.”
Previous Allegations Against CZ
Back in April, the WSJ reported that CZ intended to testify against Tron founder Justin Sun. This claim was also strongly denied by Zhao. He views the repeated portrayal of himself as a central figure in political crypto networks as part of a broader campaign against the industry.
Unanswered Questions About WLFI’s Role
Despite Zhao’s denial, questions about WLFI’s role remain. The organization operates with little transparency. Public speculation continues as to whether WLFI is combining political goals with crypto financing. A private crypto dinner with Donald Trump has further fuelled this debate.
Our Assessment
The allegations against CZ highlight how sensitive the topic of crypto and politics has become. Even though Zhao’s denial appears credible, the case serves as an example of how quickly narratives can take hold in the public sphere. As a crypto user or investor, it’s important to follow such developments closely. Political influences on the crypto market are increasing — transparency and credible communication are essential.
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Sources
- Wall Street Journal
- Posts on X (formerly Twitter) by Changpeng Zhao
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