The Coin Rise 2025-04-13 04:17:37

CZ Dismisses Claims of Testifying Against Justin Sun: “WSJ Is Trying Hard”

Binance founder Changpeng Zhao, also known as CZ, is pushing back against fresh claims that he agreed to testify against Justin Sun, the founder of Tron, as part of his settlement with U.S. authorities. The Wall Street Journal, in a report published on April 11, cited unnamed sources suggesting that Zhao had cooperated with the U.S. Department of Justice (DOJ) by offering to provide evidence on Sun. Zhao, now free after serving a four-month sentence for anti-money laundering violations , wasted no time addressing the allegations publicly. “WSJ is really TRYING here,” he wrote on X the next day. “They seem to have forgotten who went to prison and who didn’t. People who become government witnesses don’t go to prison. They are protected.” In the same post , Zhao hinted at foul play behind the scenes, implying the Journal may have been incentivized to publish a “hit piece.” According to him, multiple people had already tipped him off that such a story was in the pipeline. Sun Still Calls CZ a Mentor Justin Sun, who’s been the subject of ongoing scrutiny himself, responded calmly to the uproar. “I am not aware of the circulation rumors,” he said in an April 11 post, referring to the allegations. He went on to describe CZ as both a “mentor and close friend,” suggesting no friction between the two on record. Zhao, for his part, appeared to take the situation in stride but warned that such reports may not be isolated incidents. “I also heard some rumors about some players ‘lobbying’ against us again in the US,” he added , alluding to past efforts by FTX to tighten regulatory pressure on Binance. Back in November 2023, Zhao had claimed that FTX actively lobbied for a regulatory clampdown on Binance to grab market share, referencing a Federal Newswire report as evidence. Crypto Lobbying Fuels Distrust in Washington The controversy also comes on the heels of growing concerns over crypto industry influence in U.S. politics. According to a March report by the Center for Political Accountability, crypto-related entities have poured more than $134 million into the 2024 U.S. elections. While intended to shape a favorable regulatory landscape, these political contributions are now raising alarms over transparency and public trust. The post CZ Dismisses Claims of Testifying Against Justin Sun: “WSJ Is Trying Hard” appeared first on TheCoinrise.com .