HomeCrypto UpdatesCZ Counters WSJ's Report, Arguing "SBF Declared a Hero by This Newspaper"

CZ Counters WSJ’s Report, Arguing “SBF Declared a Hero by This Newspaper”

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Last updated Sep 27, 2023

Binance CEO quickly responded to WSJ’s report which was trying to create FUD against the Binance crypto exchange.

Binance is a top-ranked crypto exchange. In some countries, this exchange provides services via subsidiaries. In America, Binance’s American subsidiary BinanceUS is struggling badly. In the past, the Wall Street Journal (WSJ) published several reports against Binance and Binance CEO Changpeng Zhao (CZ) criticised WSJ several times for the factless reporting against Binance.

On 26 Sep 2023, the Wall Street Journal (WSJ) reported that an anonymous source told the media that Binance was beginning to collapse.

The report attached a statement by Binance co-founder Yi He. The source said that Yi He informed Binance employees about the struggling phase of the exchange.

“Every war is a make-or-break situation, and the only thing that can defeat us is ourselves. “We have won countless times and we need to win this time too,” Binance co-founder reportedly said.

Binance CEO CZ responded against WSJ’s report and said that it was that news media that called FTX ex-CEO SBF a hero, saviour of crypto

CZ said that the shared screenshot of the WSJ’s past SBF-favoured report is still available on the WSJ website.

Sam Bankman-Fried (SBF) is an infamous crypto entrepreneur, who is currently in jail, as he used FTX exchange’s customers funds for personal benefits.

Notably the WSJ’s report mentioned that the US DOJ is going to conduct its investigation for the long term against Binance & it will result only in criminal charges against CZ but Binance & DOJ have been in a talk for months. To save himself from the DOJ’s charges, CZ continuously hires new lawyers to handle the case against DOJ.

Chinese crypto blogger Colin Wu noted that WSJ’s report failed to mention any fact or proof to back the report.

The WSJ article does not contain any new information, nor does it reveal any progress in DOJ’s negotiations with Binance.

Read also: US Congress orders SEC to approve all Bitcoin spot ETF applications

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