Former Binance CEO Changpeng Zhao, who goes by CZ, and Tron founder Justin Solar strongly denied a Wall Avenue Journal report claiming Zhao agreed to supply proof towards Solar as a part of his 2023 plea cope with U.S. authorities.
Citing unnamed sources, the Journal reported Friday that Zhao, who served 4 months in jail after pleading responsible to cash laundering violations, had dedicated to testifying towards Solar in change for leniency.
A day earlier than the WSJ article was printed, Zhao posted about how a sure “baseless hit piece” about him was within the works.
A number of individuals have advised me once more WSJ is writing one other baseless hit piece about me. 4 😂
— CZ 🔶 BNB (@cz_binance) April 11, 2025
“WSJ is admittedly TRYING right here. They appear to have forgotten who went to jail and who did not. Individuals who develop into gov witnesses do not go to jail,” Zhao tweeted Saturday, suggesting somebody “paid WSJ workers” to “smear” him.
Solar, who faces separate SEC prices, echoed the denial. Solar referred to as Zhao his mentor and “shut pal,” and acknowledged how Zhao has “performed a vital function” in his “entrepreneurial journey.”
The WSJ piece appeared amid stories that Binance executives met with U.S. Treasury officers final month to debate eradicating a U.S. monitor overseeing the change’s compliance with anti-money-laundering legal guidelines.
Heads or tails
Binance has reportedly engaged in talks to listing USD1, a stablecoin minted by World Liberty Monetary, a decentralized finance enterprise backed by President Trump’s household, the place Solar is an investor.
These discussions allegedly started earlier than the Treasury conferences, suggesting a possible battle of curiosity.
A Treasury spokesperson confirmed with the Journal that the Binance assembly occurred, however was mentioned to have characterised it as “one among dozens” the company has held with crypto business execs and representatives.
Counter to these claims, Binance maintains that the present monitoring necessities create “inefficient and dear burdens” whereas insisting any modifications to its compliance methods signify “fine-tuning” reasonably than “loosening of controls.”
The journal reported that Binance was additionally reportedly searching for a presidential pardon for its former CEO. Zhao denied these allegations.
Final week, the DOJ paused company monitorships and disbanded its crypto unit, which had been instrumental within the 2023 case towards Binance.
Neither the Division of Justice nor the White Home had made public statements on the alleged cooperation settlement or potential pardon issues.
The White Home didn’t instantly return Decrypt’s request for feedback. The DOJ declined to remark.
Edited by Stacy Elliott.
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