Following previous Crypto News Flash (CNF) report on the filing of Binance CEO defamation lawsuit against Bloomberg’s subsidiary in Hong Kong, Changpeng “CZ” Zhao is once again at the center of controversy, responding to renewed scrutiny from Bloomberg regarding his advisory roles in global crypto policy.
Despite stepping down as Binance CEO in November 2023 after pleading guilty to U.S. money laundering charges and serving a four-month sentence in 2024, CZ remains active in shaping digital asset regulations worldwide. In his recent tweet, he pointed out that:
“Instead of writing an issue with evidence, they pick a person and write fictional attacks with zero evidence. I heard that Bloomberg may cancel its entire investigative journalism division soon, due to its low ethical standards.”
CZ’s Global Advisory Roles Under Fire
Beforehand, in recent months, CZ has advised governments in Kyrgyzstan, Pakistan, and Malaysia on developing crypto-friendly frameworks. His meeting with Malaysia’s Prime Minister to discuss the country’s potential as a crypto hub was notably highlighted in a Bloomberg article. The publication emphasized his past legal issues, questioning the appropriateness of his involvement in regulatory matters.
CZ criticized Bloomberg for what he perceives as a pattern of misrepresentation, stating that his comments were taken out of context to sensationalize the story.
Binance’s Continued Growth Amidst Controversy
In addition to CNF updates earlier, BNB price was reported to have surged, and it was spotted that two bullish patterns in the BNB price chart have tipped the asset to hit $1,500 this year. According to reports, despite the controversies surrounding its founder, Binance continues to thrive. The exchange remains the largest by daily trading volume, and its native token, BNB, has shown resilience in the market.
To this end, the broader cryptocurrency market also shows signs of recovery, with Ethereum experiencing a 11.75% surge over the past week, reaching $1,771. This positive momentum indicates growing investor confidence, even as regulatory challenges persist, according to Binance.
At the time of writing, Binance Coin (BNB) is trading at approximately $605.75 USD, reflecting an increase of 1.41% in the past day and 2.65% in the past week, according to Coin Market Cap data. See BNB price chart below.