The Trump family and their backed project, World Liberty Financial (WLFI), have criticized WSJ and Bloomberg for alleged biased reporting on cryptocurrency.
WLFI's Allegations
WLFI has rejected claims made by WSJ and Bloomberg, arguing these reports are politically motivated and aim to undermine the crypto industry. They stress their commitment to blockchain innovation and advise the public to rely on official updates from the project.
Statements from CZ
Binance CEO Changpeng ‘CZ’ Zhao also disputed the WSJ and Bloomberg reports, stating the alleged meetings and deals never occurred and suggesting the narratives were intended to discredit crypto. CZ highlighted that there are no business ties between Binance and WLFI.
WLFI's Financial Losses
Despite $124 million in unrealized portfolio losses, WLFI continues its investment activities, such as the recent acquisition of SEI tokens. The majority of losses were due to a 13% drop in ETH prices.
The circumstances surrounding WLFI highlight the need for objective reporting in the cryptocurrency industry, where misinformation can have significant reputational and financial impacts.
