Binance co-founder Changpeng Zhao has slammed The New York Times (NYT) for what he calls baseless claims linking him to a high-profile dinner hosted by President Donald Trump for top investors in his $TRUMP memecoin. In an X post, CZ accused the NYT of crafting a misleading narrative, sparking a debate about the accuracy of media reporting in crypto. The allegations center on a May 22, 2025, event that has drawn scrutiny for its ties to Trump’s crypto ventures.
CZ Refutes NYT Claims
The NYT reportedly prepares a story linking CZ to Trump’s memecoin dinner, focusing on attendee Tianying He, known as “Sky” on X. The outlet suggested CZ had a role in the event, which was held at Trump National Golf Club in Virginia. The dinner, billed as “the most EXCLUSIVE INVITATION in the World,” was for the top 220 holders of $TRUMP, a novelty cryptocurrency launched by Trump days before his January 2025 inauguration.
Investors spent $148 million to secure seats, with the top 25 getting VIP access and a White House tour. The event drew criticism from Democrats and ethics watchdogs, who called it a pay-to-play scheme, citing attendees like crypto billionaire Justin Sun, previously been sued by the SEC. CZ denied involvement, labeling the NYT’s claims as “FUD” (fear, uncertainty, doubt) and accusing the outlet of biased reporting against crypto.
Media Outlets Face Backlash
This is not the first time media outlets have faced pushback for biased reporting. For example, in March 2025, the Wall Street Journal reported that President Trump’s family was in talks with Changpeng Zhao to invest in the Binance U.S. subsidiary of the crypto exchange, and that the co-founder and former Binance CEO is seeking a pardon for his 2023 conviction. CZ, however, refuted the news report, calling it a misconception.
In another instance, a 2024 New York Times piece alleged insider trading in memecoins. However, crypto analysts debunked it, showing that the cited transactions were standard market activity. These instances highlight a pattern of skepticism toward biased media reporting, with CZ and others calling for more rigorous fact-checking.
CZ has vowed to keep countering misinformation, urging the crypto community to stay vigilant. His response signals a broader fight against narratives that he believes aim to undermine the industry’s growth.
