Binance’s founder just detonated a truth bomb on legacy media, torching a high-profile WSJ article as a deceptive missile in a war to crush crypto’s rise.
Binance’s Founder Slams WSJ as Puppet in Covert Campaign to Kill Crypto
Binance founder and former CEO Changpeng Zhao (CZ) shared on social media platform X on May 23 his sharp criticism of the Wall Street Journal (WSJ), accusing the outlet of publishing what he called a “hit piece” rife with inaccuracies and driven by ulterior motives. Referencing the concept known as Cunningham’s Law, Zhao alleged that the WSJ had resorted to misleading tactics: “The best way to get the right answer on the Internet is not to ask a question; it’s to post the wrong answer.” CZ said the article in question was not rooted in journalism but in a deliberate attempt to mislead, claiming the WSJ chose to frame its narrative using erroneous assumptions.
Zhao revealed that the publication had sent his public relations team a series of questions, which he described as built on false premises. The former Binance chief opined:
If you get a couple of factual errors wrong, it’s possible to fix. When you make up a story with negative intentions to begin with, there is no way to fix the ‘inaccuracies.’ It’s the entire story.
Among the issues he flagged were claims that he served as a “fixer” for World Liberty Financial (WLF) and that he introduced foreign officials to WLF members. Refuting those points, Zhao stated: “I am not a fixer for anyone. I did NOT ‘connect Mr. Saqib with the WLF team.’ They had known each other way back, whereas I only met with Mr. Saqib for the first time in Pakistan. I did NOT make any ‘introductions for World Liberty’s foreign travels.’”
In a follow-up post on X, Zhao addressed rumors about the motivations behind the article. While clarifying that the Wall Street Journal reporters did not request money to halt defamation, he claimed to have heard they were paid to publish negative coverage. “I heard they were paid to smear. Rumor has it that a major VC who invested in a U.S. crypto exchange is lobbying hard against ‘Binance helping U.S. to become the capital of crypto.’ Millions paid in ‘lobbying efforts.’ Fear of competition,” the former Binance boss said.
He further argued that the media outlet was being used to pursue anti-crypto interests:
WSJ is just the mouthpiece. There are forces in the U.S. that want to hinder efforts in making the U.S. the capital of crypto. They want to attack crypto, global crypto leaders, and the pro-crypto administration.
Supporters of the crypto industry have pointed out that Zhao’s interactions with international leaders are part of normal engagement in a globalized financial ecosystem, not evidence of impropriety.
