CZ Alleges WSJ Defaming Binance for Rival Gains – Coincu

Changpeng Zhao (CZ), founder and former CEO of Binance, accused the Wall Street Journal (WSJ) on May 23, 2025, of defamation funded by competitors in the cryptocurrency space.

These allegations could shape media relations within the cryptocurrency industry, impacting sentiment towards Binance and influencing market perceptions.

CZ Challenges WSJ Over Alleged Defamation Tactics

Changpeng Zhao has publicly accused the WSJ of accepting funds from competitors to damage Binance’s image. CZ suggests the WSJ received financial backing from a rival venture capital firm to paint Binance unfavorably, possibly impacting Binance’s position in the U.S. cryptocurrency market. In CZ’s own words, “The WSJ is really trying. They seem to have forgotten who went to jail and who didn’t. People who witness the government don’t go to jail. They are protected. I heard that someone paid the WSJ staff to slander me.”

The market appears unfazed by such allegations. Binance’s native token BNB remains stable at $589, even amidst ongoing controversies. CZ’s open confrontation signifies a broader issue of media relations and potential influence in cryptocurrency narratives.

Industry leaders like Justin Sun have shown support for CZ, refuting claims of internal conflict alleged by the WSJ. Justin Sun, Founder of Tron, stated on Twitter, “CZ is my mentor and close friend.”

BNB Price Stability and Historical Context Amid Controversy

Did you know? CZ has previously engaged in legal battles with Bloomberg over defamation claims, emphasizing ongoing tensions between cryptocurrency leaders and the mainstream media.

According to CoinMarketCap, BNB trades at $663.95, backed by a market cap of $93.54 billion. Despite a 2.47% drop in 24 hours, weekly gains stand at 2.42%. The trading volume decreased by 12.08% in 24 hours to nearly $19,999,942.63. Data indicates historical resilience amidst controversies.

The Coincu research team’s analysis identifies potential regulatory implications from CZ’s accusations against mainstream media. While Binance’s stance against defamation showcases a defense strategy, it also raises questions about trust and market stability. CZ shares thoughts on upcoming blockchain technology developments.