Changpeng Zhao Criticises Bloomberg And Defends Crypto

The former CEO of Binance, Changpeng Zhao, criticised Bloomberg magazine, which published an article about his speech in Kuala Lumpur. Zhao accused the publication of unfounded attacks.

"Another attack article by Bloomberg. Instead of dealing with an issue with evidence, they pick one person and invent attacks without any evidence. I have heard that Bloomberg may soon shut down its entire investigative journalism division because of its low ethical standards." - CZ BNB, 24 April 2025

"Another 'masterpiece' by Bloomberg. Instead of describing a problem with concrete evidence, they pick one person and resort to baseless attacks," Zhao added.

Zhao also mentioned in his release that he had heard that the magazine was planning to close its investigative journalism division due to insufficient ethical standards. It is unclear, at the time of writing, whether this statement was made in a joking or serious tone.

Changpeng Zhao responds to accusations and calls for more flexible crypto regulation

In the article, the authors indicate that during his speech Zhao called for a loosening in the regulation of crypto assets. At the same time, the text emphasises that Zhao has in the past pleaded guilty to money laundering, served a sentence, and allegedly had contact with President Donald Trump.

It should be noted that this last piece of information was previously reported by the Wall Street Journal. According to the press, the Trump family had negotiated a financial stake in Binance.US, suggesting Zhao's possible involvement in the pardon process.

The former CEO of Binance denied and continues to deny these allegations. At the same time, Zhao welcomed the change in regulation of the industry in the US market, as quoted by Bloomberg:

"Because the US is now so supportive of crypto, all other governments actually have to be a bit more competitive to retain talent, attract funds and investment. So I encourage most governments to be a little more progressive than the US."

The authors also discuss Zhao's new project, the Giggle Academy educational platform. The material indicates that, during his speech, Zhao stated that the platform could help the employment of children from low-income families, including in Africa, from the age of 14.

When asked whether this could amount to child exploitation, Zhao emphasised that caution should be exercised on this issue.

It is also recalled that during his visit to Malaysia, Zhao met with the country's Prime Minister. The parties discussed the state's potential in the field of blockchain and digital technologies in general.

Accusing the publication of unfounded attacks and questioning Bloomberg's journalistic integrity, Zhao emphasised the importance of responsible reporting. His comments reinforce the need for evidence-based journalism, especially when dealing with influential figures. In the context of the ongoing debate on media ethics, Zhao's comments are a reminder of the possible consequences of when media outlets fail to maintain standards of accuracy and fairness in their publications.