CZ Shuts Down ‘Fed Spy’ Rumors, Slams Chinese Influencers for Misinformation
Binance founder Changpeng Zhao (CZ) has firmly rejected wild conspiracy theories circulating on Chinese social media, calling the allegations “nonsense” and accusing crypto influencers of fabricating stories for clout.
The speculation was ignited by crypto commentator Liang Xi, who claimed during a livestream that CZ “works for the Fed” and was never truly imprisoned—an assertion that drew over 119,000 listeners.
In a post on X, CZ fired back:
“This is ridiculous,” he wrote. “This Chinese influencer says I worked for the Fed and I’ve never been to jail. How I wish this were true. There’s a saying among Chinese influencers: make up a story about Binance or CZ and get a lot of attention.”
The comments come as CZ continues to face scrutiny following his 2023 guilty plea in a U.S. anti-money laundering case. Despite stepping down as Binance CEO and serving a four-month prison sentence, conspiracy theories about his ties to global institutions continue to spread.
Wall Street Journal Report Adds Fuel to Fire
The backlash follows a separate April report from the Wall Street Journal that cited unnamed sources claiming Zhao had agreed to testify against Tron founder Justin Sun as part of his plea deal with U.S. prosecutors.
CZ dismissed the story, suggesting it was part of a coordinated smear campaign:
“They seem to forget who goes to jail and who doesn’t. People who are government witnesses don’t go to jail. They are protected. I heard someone paid WSJ staff to smear me.”
Ongoing Rumors Reflect Crypto’s Polarizing Nature
While CZ remains a polarizing figure in crypto, these claims reflect deeper tensions in the global digital asset space, where power, influence, and regulation frequently intersect with conspiracy narratives.
Despite the rumors, Binance remains one of the largest crypto exchanges globally, and CZ continues to command a massive following—both loyal and critical.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
