CZ, Former CEO of Binance, Speaks Out… What Exactly Is Justin Sun Risking?

The founder of Tron, Justin Sun, claims to be unaware of reports stating that Changpeng Zhao “CZ”, the former CEO of Binance, allegedly provided evidence against him as part of his agreement with the U.S. authorities.

Justin Sun refutes the allegations of the Wall Street Journal

On April 11, Justin Sun, creator of Tron, dismissed rumors concerning Changpeng Zhao (CZ), the former leader of Binance. “I haven’t heard about these rumors. CZ remains my mentor and friend“, he wrote on X.

Sun was responding to an article from the Wall Street Journal published the same day. According to this newspaper, CZ allegedly provided U.S. authorities with compromising information about Sun, as part of his judicial agreement with the Department of Justice.

According to sources from the newspaper, this collaboration had never been mentioned before.

Sun took the opportunity in his message to reiterate his close relationship with CZ, describing him as a “close mentor and friend” who has “played a crucial role” in his entrepreneurial journey.

“To this day, his conduct and principles remain the highest standard that I strive to follow as a founder“, he emphasized.

A displayed confidence in the American justice system

Justin Sun also shows great confidence in American judicial institutions. He recalled that the DoJ is one of the closest partners of the financial crime task force T3 (T3 FCU), co-founded by Tron, Tether, and TRM Labs.

“Whether with CZ or our partners at the Department of Justice, we maintain direct and honest communication at all times. I have complete confidence in each of them,” he stated in his message.

This matter comes as Zhao has recently served a four-month prison sentence for violations of anti-money laundering laws. The former CEO of Binance was released from a U.S. federal prison on September 27.

Meanwhile, Sun himself is subject to proceedings initiated by the U.S. Securities and Exchange Commission (SEC). In February 2024, both parties requested a federal court to suspend the case to allow for settlement negotiations. The SEC initially sued Sun and three of his companies in March 2023 for various violations of securities regulations.