Binance co-founder Changpeng "CZ" Zhao calls out The Wall Street Journal report, calling it a "hit piece"

In an X post, Zhao criticized the publication's portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business entity affiliated with US President Donald Trump.

Binance co-founder and former CEO Changpeng "CZ" Zhao has hit back at a report by The Wall Street Journal, which he described as a "hit piece" filled with inaccuracies and negative assumptions.

In an X post on Saturday, Zhao criticized the publication's portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business entity affiliated with US President Donald Trump. Trump's sons — Eric and Donald Jr. — are involved in the management of the company.

Zhao said the article portrayed him as acting as a "fixer" for the WLF team and its co-founder Zach Witkoff during foreign trips. The article suggested Zhao facilitated introductions and meetings for WLF leaders during his travels, including a visit to Pakistan that reportedly resulted in a memorandum of understanding with a local official.

"I am not a fixer for anyone," Zhao stated, firmly denying that he connected Pakistani official "Mr. Saqib" with WLF or organized any engagements abroad. "They had known each other way back, whereas I only met with Mr. Saqib for the first time in Pakistan."

The article by the WSJ focused 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 $2 billion crypto deal.

The report by the outlet raised questions about whether diplomatic efforts overlapped with private crypto ventures. It also 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.

The report also highlighted that WLFI, which raised over $600 million in token sales, does not disclose the names of all its investors.

The post by the Binance chief came after the WSJ submitted a list of questions containing what he described as "wrong and negative assumptions." He and his public relations team responded by pointing out several factual inaccuracies, he said, but concluded that the article was "built on a flawed narrative."

Zhao slammed the WSJ, calling it a "mouthpiece" for anti-crypto forces in the United States. He said the forces behind the publication want to hinder efforts to make the US a crypto capital.

"They want to attack crypto, global crypto leaders and the pro-crypto administration," CZ claimed, saying the article is part of a broader effort to stifle the industry's growth in the US.

This is not the first time Zhao has clapped back at the WSJ recently. In an April 11 report, the publication cited anonymous sources alleging that agreed to testify against Tron founder Justin Sun as he settled with US prosecutors.

CZ dismissed the report, saying that people who become government witnesses don't go to jail and are protected. CZ also claimed that someone paid WSJ employees to smear his name.