Former Binance CEO Changpeng Zhao (CZ) is reportedly considering filing a defamation lawsuit against Massachusetts Senator Elizabeth Warren over her allegations that he bribed President Donald Trump to obtain a pardon.
According to a report by the New York Post on Tuesday, Zhao's attorney, Teresa Goody Guillén, a partner at Baker & Hostetler, stated that the former Binance CEO plans to sue unless Warren retracts her comments made on the X platform after he received a presidential pardon on October 23.
The social media post, which now includes background information for readers, claims that CZ "pleaded guilty to criminal money laundering charges," resulting in a four-month prison sentence in 2024. Zhao pleaded guilty in November 2023 to a charge related to his failure to maintain an effective anti-money laundering program at Binance, which violated the Bank Secrecy Act.
According to the Post, Goody Guillén stated, "Mr. Zhao will not remain silent while a U.S. senator appears to abuse her power by repeatedly making defamatory statements that damage his reputation. Therefore, Mr. Zhao urges the immediate retraction of these false statements, whether in resolution or on the X platform… Mr. Zhao reserves the right to pursue all available legal remedies to address these false statements."
Trump's pardon of CZ on October 23 shocked many in the cryptocurrency industry and Congress, with some claiming the president's action was a response to a $2 billion investment in Binance by an Abu Dhabi-based investment firm using the USD1 stablecoin issued by World Liberty Financial—a cryptocurrency company linked to the Trump family.
Warren's tweet also claimed that Zhao "funded President Trump's stablecoin," calling the move "corrupt." CZ responded online, stating that there were "no money laundering charges" and that Warren "could not get the facts straight."
Cointelegraph has reached out to Warren's office, Binance, and Goody Guillén for comments on the potential lawsuit, but has not received a response as of publication. Warren has not made any public statements on social media regarding the potential lawsuit, and her X post remains online as of publication.
In July, CZ threatened to sue Bloomberg over a report claiming that Binance developed the original smart contract code for the USD1 stablecoin. The report included Zhao's claim that he applied for a presidential pardon following a $2 billion transaction related to USD1 and Binance.
The former Binance CEO sued Bloomberg Businessweek in 2022 over a report in its Chinese edition that claimed the cryptocurrency exchange was operating a Ponzi scheme. In response, the magazine issued an apology in 2024, and the company agreed to make charitable donations to resolve the matter.
Related: Democratic Senator Questions Trump's Pardon of CZ, Calls for DOJ Explanation
Original article: New York Post: Zhao Changpeng (CZ) Considering Lawsuit Against U.S. Senator Over Money Laundering Allegations
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