Changpeng Zhao (“CZ”), Binance’s co-founder, is furious. He’s accusing Bloomberg of publishing another false and damaging article about him, and he’s threatening a lawsuit – his second against the financial news giant in just a few years.
Bloomberg’s Accusations
Bloomberg’s recent report claimed Binance helped create a stablecoin for World Liberty Financial (WLF), a company linked to Donald Trump. The report also suggested this stablecoin was used in a massive $2 billion investment deal and implied CZ’s recent pardon request to Trump was connected to this transaction, hinting at a conflict of interest.
CZ’s Response: “FUD” and Legal Action
CZ called the Bloomberg article a “hit piece,” full of inaccuracies, and a blatant attempt to smear his reputation. He stated on X (formerly Twitter) that he might sue Bloomberg again for defamation. This isn’t CZ’s first rodeo; Bloomberg previously apologized and made a donation after a previous legal dispute.
A Pattern of Negative Press?
CZ isn’t just pointing fingers at Bloomberg. He also mentioned a May article in the Wall Street Journal that alleged he helped arrange foreign travel for the Trump family’s WLF. He denies these claims, suggesting that he and the entire crypto industry are being targeted by those who oppose the growth of digital assets in the US.
Is CZ a Target?
The situation raises questions. Is CZ truly being unfairly targeted by the media, or are these reports uncovering legitimate concerns? Only time, and possibly another lawsuit, will tell.