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Binance (CRYPTO: BNB) co-founder Changpeng “CZ” Zhao is preparing to file a lawsuit against Sen. Elizabeth Warren (D-Mass.) for alleged defamation related to remarks she made about his conviction, according to a report released Tuesday.
CZ’s lawyer, Teresa Goody Guillén, told the New York Post that the former Binance CEO is preparing a letter calling for Warren to retract a social media post in which she accused him of criminal money laundering and alleged that he obtained his pardon by funding President Donald Trump’s stable coin.
Without a formal retraction, Goody Guillen said CZ plans to file a defamation lawsuit imminently against the lawmaker.
CZ reshared the X post referencing the report, but did not officially confirm the news. Guillén quoted the post saying, “Great article.” Benzinga reached out to Binance PR for confirmation.
Warren took to X shortly after Trump’s pardon last week, saying, “CZ pleaded guilty to a criminal money laundering charge,” which drew a sharp reaction from the Binance founder.
“A U.S. Senator can’t get her facts right in a public post about a person’s charge. There were NO money laundering charges,” he said in response.
CZ pleaded guilty to violating the Bank Secrecy Act, a law that requires financial institutions to help U.S. government agencies detect and prevent money laundering, in 2023. As part of the settlement, he paid a $50 million fine, stepped down as the company’s CEO and subsequently served four months in prison.
Users added a community note to Warren’s post, stating that CZ did not plead guity to money laundering.
After granting the pardon, Trump said that he didn't know CZ personally and had never met him, but he was told by a "lot of people" that CZ didn't commit any crime and was "persecuted" by the Joe Biden administration.
Meanwhile, Warren, along with fellow Senator Adam Schiff (D-CA), has introduced a Senate resolution condemning Trump’s pardon. The two lawmakers allege that Binance’s involvement in a $2 billion investment through Trump family-backed World Liberty Financial USD (USD1) stablecoin, and Trump’s personal stake in the platform, represent “clear corruption and influence-peddling.”
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Koshiro K on Shutterstock.com
Posted In: $BNB
