TRON's Justin Sun Defends Binance's CZ Amid DOJ Rumors

Justin Sun, the founder of TRON, has publicly addressed recent rumors that suggested Binance’s founder, Changpeng Zhao, had cooperated with the U.S. Department of Justice against Sun as part of a plea deal regarding financial crimes. Sun took to X to dismiss these claims, emphasizing his strong relationship with Zhao, whom he referred to as a mentor and close friend. Sun highlighted that Zhao has always been supportive of his entrepreneurial journey and has set a high standard for integrity.

Sun expressed his trust in Zhao, stating that his principles are the highest standard he strives to follow as a founder. He also praised the DOJ, describing them as a reliable partner in the shared mission to combat financial crimes. Sun’s defense came in response to allegations that Zhao had agreed to provide information against Sun in exchange for a lighter sentence. Despite these reports, Sun maintained that he and Zhao have always maintained open and honest communication with the DOJ. He expressed confidence that these rumors were just a ploy to create division in the crypto space.

Sun highlighted that such rumors are harmful to the unity of the crypto industry. “Crypto is already a small space. We need to stand together to make a real impact,” he said. He believes that attacks like these aim to divide key players in the market, but he remains resolute in his support for Zhao. Zhao, in response to the allegations, also denied the claims, labeling the report as a “baseless attack.” He has been vocal in the past about his issues with the reporting, calling previous articles “pure fabrication.”

Zhao’s swift denial reflects his efforts to protect his reputation, especially in light of ongoing legal battles with authorities. Despite facing regulatory challenges, his stance is clear: he believes the rumors about his cooperation with the DOJ are unsubstantiated. The backdrop to this drama involves Binance’s struggles in the U.S. market. The exchange is currently working on reducing federal oversight after its settlement with the DOJ. Binance is also reportedly in talks with a potential stablecoin deal. These efforts signal its push to regain footing in the U.S. despite regulatory pressures.

CZ’s recent legal challenges and the rumors surrounding his alleged cooperation with the DOJ highlight the increasing scrutiny on Binance. Sun’s defense of CZ comes at a time when the crypto industry faces heightened regulatory challenges. In conclusion, Justin Sun’s response to the DOJ rumors shows his unwavering support for Changpeng Zhao. Despite the circulating speculations, he believes that the relationship between him, CZ and the DOJ remains professional and trustworthy. The crypto community will be watching closely to see if these rumors affect the ongoing efforts of Binance and TRON in the market.