Binance Founder Denies Involvement in Trump-linked Crypto Project

Changpeng “CZ” Zhao, the co-founder and former CEO of Binance, has refuted claims made in a recent article, dismissing it as a "hit piece" filled with inaccuracies and negative assumptions.

In a post on X, Zhao criticized the portrayal of his alleged involvement with World Liberty Financial, a decentralized finance project backed by a business entity affiliated with former US President Donald Trump. The article suggested that Zhao facilitated introductions and meetings for WLF leaders during foreign trips, including a visit to Pakistan that reportedly resulted in a memorandum of understanding with a local official.

Zhao firmly denied these allegations, stating that he is not a "fixer" for anyone and that he did not connect Pakistani official “Mr. Saqib” with WLF or organize any engagements abroad. He clarified that Mr. Saqib and WLF had known each other previously, and that he only met Mr. Saqib for the first time in Pakistan.

Zhao’s response comes after an investigation that highlighted a complex string of diplomatic and business interests involving WLF. The report raised concerns about the blurred lines between public duties and private interests, focusing on diplomatic and business dealings involving WLF co-founders Steve Witkoff and his son, Zach Witkoff. Steve Witkoff serves as the US Special Envoy to the Middle East under the Trump administration, while Zach Witkoff has been involved in securing a reported crypto deal.

The report also questioned whether diplomatic efforts overlapped with private crypto ventures and implied that Zhao may have been attempting to curry favor with the Trump administration. On May 6, Zhao confirmed that he is seeking a pardon from the Trump administration for his earlier money laundering conviction.

Zhao claimed that the article was an “attack” on crypto, describing the publication as a “mouthpiece” for anti-crypto forces in the United States. He asserted that these forces want to hinder efforts to make the US a crypto capital and are part of a broader effort to stifle the industry’s growth in the US.

This is not the first time Zhao has pushed back against the publication. In an April 11 report, the article cited anonymous sources alleging that Zhao agreed to testify against Tron founder Justin Sun as he settled with US prosecutors. CZ dismissed the report, stating that people who become government witnesses don’t go to prison and are protected. He also claimed that someone paid employees to smear his name.