CZ Accuses WSJ, Bloomberg of Manufacturing Binance-Trump Pardon Story

Key Takeaways

• The Wall Street Journal reported that Donald Trump’s family was interested in acquiring a stake in Binance U.S.
• Binance founder Changpeng Zhao (CZ) swiftly denied the claims, accusing WSJ and Bloomberg of fabricating stories.
• CZ reiterated that there is no deal between him, Binance, and any American individual or institution.

Binance founder Changpeng Zhao (CZ) has once again found himself at odds with major U.S. media outlets, accusing The Wall Street Journal (WSJ) and Bloomberg of pushing false narratives about Binance and his legal situation.

The controversy erupted after WSJ published a report alleging that Donald Trump’s family had expressed interest in acquiring a stake in Binance U.S. The article also implied that CZ could be in discussions for a potential presidential pardon.

CZ wasted no time in shutting down the claims.

CZ Pushes Back Against WSJ and Bloomberg

“Sorry to disappoint. The WSJ article got the facts wrong,” CZ posted on X.

He added that over 20 people had reached out, saying WSJ had asked them whether they could confirm a deal for a pardon.

“I have had no discussions of a Binance U.S. deal with … well, anyone,” CZ wrote.

Dismissing the speculation, he pointed out that WSJ’s reporting seemed less about facts and more about attacking both President Donald Trump and the broader crypto industry.

“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,” CZ wrote. “It’s good to see that even WSJ thinks I should be pardoned.”

Bloomberg Joins the Fray

In a follow-up post, CZ named Bloomberg as the “other media” outlet spreading similar claims.

According to him, Bloomberg’s reporting was equally speculative. It acknowledged uncertainty around the alleged talks while failing to substantiate the claims.

CZ dismissed the idea that Binance was involved with Donald Trump-backed World Liberty Financial (WLFI), a firm mentioned in Bloomberg’s coverage.

“I/Binance have no business dealings with WLF or the individuals mentioned, nor did we buy any WLF coins,” he clarified.

Taking aim at modern journalism, he asked, “Is this what news has become?”

CZ’s frustration with Bloomberg runs deep. In 2022, he sued the outlet for defamation after it published a cover story likening Binance to a Ponzi scheme.

Two years later, Bloomberg issued a public apology, retracting the statement and making a donation to a special education foundation in China.

However, CZ later pointed out inconsistencies in the apology, noting that the Chinese-language version still referenced the original defamatory claim.

Binance U.S.: No Talks, No Deals

CZ’s latest remarks align with Binance CEO Richard Teng’s previous statements about the company’s cautious stance on the U.S. market.

As CCN reported last month, Teng emphasized that Binance has no immediate plans to expand in the U.S. due to regulatory uncertainty.

Under President Joe Biden, the SEC ramped up enforcement actions against crypto firms, prompting Binance to scale back its U.S. operations.

While Teng remains optimistic about regulatory improvements under Trump, he has stressed that Binance will not re-enter the market until clearer rules are in place.

He also reiterated that Binance is exploring options for a global headquarters, considering tax policies and regulatory environments, but has not disclosed potential locations.

Despite the regulatory hurdles, Teng believes the crypto industry is entering a “golden era” under Trump’s presidency, calling it a “fresh reset” for the sector.

For now, however, Binance U.S. remains in limbo, and the rumors of a Trump-linked acquisition appear to be just that—rumors.