- Zhao denies declare he agreed to testify in opposition to Justin Sun in DOJ case.
- Sun says he’s unaware of the rumours and calls Zhao a mentor.
- Polymarket odds present a rising likelihood of a Trump stake deal in Binance.
Binance co-founder Changpeng Zhao and TRON founder Justin Sun are pushing again after a Wall Road Journal report claimed Zhao agreed to offer proof in opposition to Sun as a part of his 2023 plea deal with US authorities.
The story, revealed Friday, particulars Binance’s latest push to cut back US oversight whereas pursuing enterprise ties with World Liberty Monetary, a crypto agency backed by Donald Trump’s household.
It cites unnamed sources who allege Zhao, who served a four-month sentence for anti-money-laundering violations throughout his time as CEO of Binance, provided to help prosecutors investigating Sun, who’s dealing with separate SEC and DOJ scrutiny.
However each males deny the declare.
“A number of folks have advised me once more WSJ is writing one other baseless hit piece about me,” Zhao wrote on X.
Sun, who was named within the report because the goal of the alleged cooperation deal, responded: “I’m not conscious of the circulating rumors,” he wrote. “CZ is each my mentor and an in depth pal. They at all times attempt to use rumours to drive us aside. Solely by standing collectively can we alter the whole lot.”
Trump talks
The WSJ additionally reported that Sun invested $75 million {dollars} into World Liberty’s stablecoin, USD1 — a transfer that coincided with the SEC pausing its fraud case in opposition to him.
In accordance with the report, Binance executives considered the funding as a playbook for find out how to enhance relations with a crypto-friendly Trump administration.
Zhao has additionally denied a separate WSJ article revealed final month, which claimed Trump relations have been in talks to amass a stake in Binance’s struggling US affiliate. “I’ve had no discussions of a Binance US deal with… effectively, anybody,” he wrote.
Bettors on the Polymarket prediction platform presently assign a 22% chance that the Trump household will take a stake within the change earlier than July.
Binance is claimed to be optimistic {that a} second Trump time period may assist unwind restrictions imposed after the change’s document $4.3 billion settlement with US authorities.
Internally, the corporate has mentioned in search of a presidential pardon for Zhao, although neither the White Home nor the DOJ has confirmed whether or not he’s into consideration.
Crypto market movers
- Bitcoin has gained 2.6% over the previous 24 hours and is buying and selling at $83,490.
- Ethereum is up 2.8% in the identical interval to $1,590.
What we’re studying
Kyle Baird is DL News’ Weekend Editor. Bought a tip? E-mail at kbaird@dlnews.com.
