TL;DR
- Changpeng Zhao (CZ), former CEO of Binance, denied the Wall Street Journal’s claims about possible negotiations between representatives of Trump and Binance.US.
- The businessman suggested that the report aimed to discredit both President Trump and the crypto industry.
- The founder of Binance criticized the report for potential political motivations, mentioning the residual influence of the previous administration.
Changpeng Zhao (CZ), former CEO of Binance, has rejected the Wall Street Journal (WSJ) claims suggesting that representatives of Donald Trump’s family had discussed a potential acquisition of a stake in Binance.US.
CZ called the report inaccurate and suggested that its goal was to discredit both President Trump and the crypto industry. The former Binance executive made it clear that he has had no discussions regarding a deal with Binance.US with anyone.
The WSJ had reported that Binance reached out to Trump’s allies last year to propose a business arrangement in an attempt to revitalize the platform’s operations in the United States. Additionally, the article mentioned that CZ had sought a presidential pardon. In response, Zhao stated that more than 20 people informed him that they had been contacted by WSJ and other media outlets to verify whether he had made any request for a pardon.
CZ Targets the Previous Administration
Throughout his statement, CZ implied that the report could be politically motivated, mentioning the “residual forces” of the previous administration that could be working against the crypto industry. This criticism refers to what he describes as an “attack on cryptocurrencies” from certain sectors of the former government.
Regarding his legal situation, the Binance founder reminded that he faces possible prison sentences after admitting to violating US anti-money laundering laws. However, he highlighted that he is the only person in US history to have been sentenced to prison for a single violation of the Bank Secrecy Act (BSA). Despite his situation, he reaffirmed his commitment to the development of cryptocurrencies, aiming to expand their adoption both in the US and globally.
With this statement, CZ aims to close the controversy and shift the focus back to Binance’s mission of promoting cryptocurrency usage, regardless of any political or legal challenges that may arise along the way
