Changpeng Zhao, known as CZ and former CEO of Binance, has categorically denied information regarding his potential cooperation with the U.S. Department of Justice in the case against Justin Sun. This comes in response to an article published by the Wall Street Journal (WSJ), which claimed that Zhao allegedly agreed to testify against Sun.
This is reported by Business • Media
In his statement on social media platform X (formerly Twitter), he noted:
“WSJ is really trying hard here”
. CZ emphasized that prosecution witnesses do not serve punishment, and his own experience, having served a four-month term, suggests otherwise. He also stated that the publication is part of a political campaign against him and the company Binance.
Justin Sun’s Words
Justin Sun, for his part, stated that he had not heard about the accusations against Zhao and considers him a
“mentor and close friend”
. Sun emphasized that he respects CZ and does not believe the circulating rumors.
The Impact of the Crypto Industry on Politics
At the same time, there is growing concern in the U.S. regarding the influence of the crypto industry on elections. According to the Center for Political Accountability (CPA), cryptocurrency companies spent $134 million on political campaigns in 2024. This raises risks for the industry’s reputation and could undermine public trust.
It is worth noting that Pakistan recently appointed Changpeng Zhao as an advisor on crypto assets, indicating his influence in this area.