Changpeng Zhao Alleges Wall Street Journal Takes Money for Discrediting Binance

Changpeng Zhao, founder of Binance, alleges that the Wall Street Journal took funds to discredit the company, sparking significant reactions in the crypto community.

This event highlights ongoing tensions between Binance and media entities, potentially influencing public perception and market dynamics.

Zhao Claims Payoffs Discredit Binance

Zhao Changpeng publicly alleged that the Wall Street Journal received payments to discredit Binance, asserting large venture capital firms are influencing this move. These firms, allegedly backing a US crypto exchange, reportedly spend millions on lobbying. Significant attention focuses on this claim due to Binance’s influence in the crypto market. Zhao stated, “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.”

Market reactions show the resilience of Binance’s native token, BNB. Critics and supporters alike have voiced their opinions, with Zhao further expressing that such actions reflect the fear of competition within the industry. The incident maintains tensions between media outlets and crypto companies, demonstrating the complex nature of media narratives in this sector.

BNB’s Resilience and Compliance Pressure

Did you know? Zhao’s accusations against media outlets follow a pattern of legal actions; he previously sued Bloomberg Businessweek for defamation in 2022.

As of May 23, 2025, Binance Coin (BNB) is valued at $664.48, holding a market cap of $93.62 billion, dominating 2.74% of the cryptocurrency market. Trading volume for the past 24 hours indicates a drop by 22.55% from CoinMarketCap’s latest update. BNB experienced a decline of 3.23% over the last day but increased by 1.71% over the past week.

Insights from Coincu research team suggest growing pressures for regulatory clarity could shape Binance’s operational strategies. As media scrutiny heightens, the importance of maintaining transparent regulatory compliance emerges, potentially affecting the broader digital asset market.