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In a firm rebuttal, Binance co-founder Changpeng Zhao and World Liberty Financial (WLF) have rejected claims made by the Wall Street Journal (WSJ) that Zhao arranged meetings between WLF and Pakistani government officials.
The WSJ article alleged that Zhao helped WLF establish connections with officials in Pakistan, Malaysia, and Kyrgyzstan during a Middle East business trip, and suggested discussions about U.S. policies took place.
Zhao criticized the WSJ article on social media platform X, labeling it a “hit piece” and an example of poor journalism. He referenced Cunningham’s law, implying that the false claims were intentionally broadcast to provoke a response. Zhao denied acting as a fixer or intermediary for WLF or any other party.
Allegations and Denials
The WSJ claimed Zhao introduced WLF representatives to high-profile officials, including Pakistani advisor Bilal Bin Saqib, whose association with WLF reportedly began after Zhao’s intervention. Contrary to these assertions, Zhao stated that the WLF team had longstanding relationships with Pakistani officials prior to any meetings he had. Zhao also revealed that he only met Bilal Bin Saqib for the first time during a visit to Pakistan.
WLF co-founder Zak Folkman supported Zhao’s denial, stating that neither Binance nor WLF coordinated any talks with Pakistani officials. Folkman described their encounter with Bilal Bin Saqib as a meeting of longtime friends, dismissing WSJ’s suggestion of orchestrated diplomacy or policy discussions.
The report highlighted WLF’s links to former President Donald Trump’s family, mentioning the involvement of Trump’s sons Eric and Donald Jr. in the company. Some speculate Zhao’s interest in WLF stems from a desire to secure a pardon following his imprisonment amid the previous U.S. administration’s crackdown on cryptocurrency.
Media Bias and the “War Against Crypto”
Zhao expressed his belief that certain media outlets, including the WSJ, have an agenda against the cryptocurrency industry. He suggested that these groups seek to hinder America’s leadership in blockchain innovation by discrediting key figures in the crypto community. Zhao also alluded to a broader “shadow war” aimed at undermining trust in blockchain technology.
The WSJ has previously published critical stories about Zhao, including accusations that he collaborated with U.S. officials to expose information on TRON founder Justin Sun. Zhao claimed the WSJ ignored corrections submitted by his team before publishing their articles.
Both Zhao and WLF firmly reject the WSJ’s allegations, asserting that no orchestrated meetings or policy discussions took place with Pakistani officials arranged through Zhao.
They insist the report contains falsehoods and expect a correction or explanation from the WSJ for such serious inaccuracies. The episode underscores ongoing tensions between cryptocurrency leaders and certain segments of the media amid broader geopolitical and regulatory challenges.
