Binance Founder Denies Involvement With Trump-Linked Firm

Changpeng Zhao, the co-founder of Binance, has strongly denied allegations that he was involved with World Liberty Financial (WLFI), a firm linked to former U.S. President Donald Trump. The allegations, which were raised in a recent article, suggested that Zhao acted as a liaison for WLFI during overseas trips, including a visit to Pakistan. Zhao, however, refuted these claims, stating that the article was misleading and that the publication intentionally distorted facts to fit a narrative.

Zhao addressed the report’s suggestion that he arranged introductions between Bilal Bin Saqib, head of the Pakistan Crypto Council, and WLFI. The article indicated that this connection led to Saqib’s appointment as an advisor to the group and the signing of a memorandum of understanding with the Pakistani government. Zhao rejected these alleged connections, asserting that he did not connect Saqib with the WLF team and that they had known each other long before he met Saqib for the first time in Pakistan. He also dismissed claims that he had a role in organizing WLFI’s foreign visits, noting that the report was built on false premises.

Zhao’s denial comes amid growing concerns over WLFI’s secretive dealings and Trump’s high-profile crypto dinner. The allegations have raised questions about the potential entanglement of crypto and politics, as well as the transparency of WLFI’s operations. Zhao’s response highlights the ongoing tensions between traditional media and the crypto industry, as well as the broader political implications of crypto-politics entanglement.

This is not the first time Zhao has disputed reports about his involvement in various activities. In April, he dismissed claims that he had agreed to cooperate against Justin Sun as part of a plea deal with US authorities. He also denied prior reports suggesting that President Trump had sought an investment in Binance. Zhao likened the reporting approach to Cunningham’s Law, which suggests that the best way to get the correct answer is to post the wrong one. He criticized the traditional media house, stating that it had resorted to Cunningham’s Law with negative intentions, which is not how journalism should work.

Zhao concluded that the stories are being used by anti-crypto interests to undermine the industry, its global leaders, and pro-crypto movements in the US. He suggested that there are forces in the US that want to hinder efforts in making the US the capital of crypto. The spokesperson for WLFI also denied that Zhao played a coordinating role, but the misleading reports persisted. Zhao’s denial and the subsequent backlash highlight the ongoing tensions between traditional media and the crypto industry, as well as the broader political implications of crypto-politics entanglement.