CZ denies acting as a fixer for Trump-linked World Liberty Financial.
WSJ report on crypto dealings contained factual errors, Zhao says.
Zhao rejects claims of seeking a pardon from Trump administration.
Binance has no business ties with World Liberty Financial.
Crypto industry faces scrutiny amid shifting U.S. regulations.
#ChangpengZhao #Binance #Trump #WorldLibertyFinancial l
Binance founder Changpeng Zhao has publicly rejected claims from a recent Wall Street Journal article suggesting he acted as a fixer for World Liberty Financial, a crypto project tied to U.S. President Donald Trump. Zhao took to X to dismiss the allegations, asserting the report contained factual errors and biased assumptions. The article claimed Zhao facilitated connections for the Trump-affiliated venture during international trips, including a visit to Pakistan that led to a memorandum of understanding with a local official.
Zhao denied any involvement in connecting tech entrepreneur Bilal bin Saqib with the World Liberty Financial team. “The WSJ’s questions were based on wrong and negative assumptions,” Zhao stated on X, emphasizing that he and his team pointed out multiple inaccuracies in the report. He described the article as part of a broader effort to undermine cryptocurrency growth in the U.S.
Zhao Rejects Fixer Role
The WSJ report alleged Zhao played a key role in arranging meetings for World Liberty Financial, a decentralized finance project linked to Trump’s sons, Eric and Donald Jr. It suggested Zhao’s actions were an attempt to gain favor with the Trump administration, particularly as he seeks a pardon for his 2023 money laundering conviction. Zhao served four months in prison in 2024 after Binance reached a $4.3 billion settlement with U.S. authorities for violating the Bank Secrecy Act.
“I am not a fixer,” Zhao wrote on X, refuting claims of facilitating deals for World Liberty Financial. He clarified that he had no role in any introductions or agreements, including the reported Pakistan deal. Zhao’s conviction stemmed from failing to maintain an effective anti-money laundering program at Binance, leading to his resignation as CEO. Despite serving his sentence, he remains a prominent figure in the crypto industry.
The WSJ article also raised questions about potential overlaps between diplomatic efforts and private crypto ventures. It noted that Steve Witkoff, a co-founder of World Liberty Financial and U.S. Special Envoy to the Middle East, was involved in securing a $2 billion crypto deal. Zhao dismissed these claims, arguing the report was built on a flawed narrative designed to portray crypto negatively.
Broader Context of Crypto Scrutiny
World Liberty Financial has drawn attention for its ties to Trump and its USD1 stablecoin, launched in March 2025. The project raised over $600 million in token sales, with investors like Tron founder Justin Sun among its backers. Sun, who attended a Trump-hosted memecoin dinner on May 22, 2025, was named in the WSJ report as a key figure. The article suggested Zhao’s actions might be linked to seeking a pardon, a claim he firmly denied.
Zhao’s response aligns with his history of challenging media narratives. In April 2025, he criticized a WSJ report alleging he agreed to testify against Sun as part of his plea deal. “People who become government witnesses don’t go to prison,” Zhao stated, dismissing the claim as a smear campaign. Sun also defended Zhao, calling him a mentor and rejecting the allegations as baseless.
The crypto industry faces ongoing regulatory scrutiny in the U.S. The Securities and Exchange Commission paused several enforcement actions against major crypto firms, including Binance, following Trump’s inauguration in January 2025. This shift has sparked speculation about a more favorable regulatory environment under the current administration. However, concerns persist about potential conflicts of interest, particularly with Trump’s involvement in World Liberty Financial.
Zhao’s public statements aim to set the record straight. He emphasized that Binance has no business dealings with World Liberty Financial or its affiliates. The controversy highlights the complex interplay between crypto, politics, and regulation, with figures like Zhao at the center of the debate.
