CZ Addresses New Allegations in Wall Street Journal Report – Coincu

Changpeng Zhao, known as CZ and the former CEO of Binance, recently addressed allegations from the Wall Street Journal about potential cooperation with U.S. authorities on April 12, 2025.

The event spurred significant debate over media representation within the crypto industry, highlighting the tension between regulatory bodies and industry leaders.

CZ’s Rebuttal to WSJ Allegations

Binance co-founder CZ took to the X platform on April 12 to respond to the Wall Street Journal’s allegations. CZ denied claims about his cooperation with U.S. authorities against competitor Justin Sun. CZ criticized the media’s narrative, suggesting paid discredit efforts. Sun, another key figure implicated, voiced support for CZ, citing a mutual understanding.

Market conditions remained stable despite the allegations. Bitcoin’s value exceeded $85,000 the same day, though a direct connection to the controversy remains unverified. Binance continued operations with new trading pairs, maintaining confidence in its core activities amid scrutiny.

The Wall Street Journal is really trying too hard. They seem to have forgotten who went to jail and who didn’t. People who become government witnesses will not go to jail, but will be protected. I heard that someone paid the Wall Street Journal employees to discredit me. – Changpeng Zhao (CZ), Co-founder and former CEO of Binance

Community responses were divided on social media. While some expressed uncertainty about Binance’s legal status, others supported CZ, advocating for his role in expanding the global crypto market. The statements underscore enduring tensions between crypto ecosystem leaders and prominent financial media.

Bitcoin Surges as Binance Faces Media Scrutiny

Did you know? Past confrontations between crypto firms and mainstream media often intensified during periods of increased regulatory scrutiny, drawing attention to the industry’s struggles with perception management.

As of April 12, 2025, Bitcoin, with a market dominance of 62.51%, reached $85,018.80. This reflects an uprising of 1.51% in 24 hours. CoinMarketCap data indicates a market cap nearing 1.69 trillion USD. Trading volume experienced a 39.10% reduction, suggesting a possible cooldown after the price surge.

Insights from the Coincu research team suggest that media controversies can alter market sentiment, but Binance’s strategic product expansions demonstrate its resilience and focus on growth. Historically, crypto industry turmoil often aligns with technological innovation and evolving compliance standards.