CZ Fires Back at Bloomberg: "Fictional Attack" as Malaysia Eyes Crypto Hub Status

Binance’s founder slams media narrative while Southeast Asia doubles down on digital assets—because nothing says ’financial revolution’ like regulatory whiplash and billionaire feuds.

Malaysia’s crypto ambitions collide with Bloomberg’s skepticism, proving once again that in high finance, the only truth is volatility.

Changpeng Zhao, the former CEO of Binance, has vehemently refuted a recent Bloomberg report detailing his appearance in Kuala Lumpur and his advocacy for relaxed crypto regulations.

In a post on X, Zhao labeled the Bloomberg article as "another hit piece," accusing the publication of fabricating "fictional attacks with zero evidence." He further suggested that Bloomberg might soon shutter its investigative journalism division due to what he described as "low ethical standards."

Zhao’s strong denial comes after Bloomberg reported on his address in Kuala Lumpur this week, where he joked about the absence of regulators and discussed his advisory roles with governments in Pakistan and Kyrgyzstan, as well as his meeting with Malaysian Prime Minister Anwar Ibrahim regarding the country’s potential as a crypto hub. The Bloomberg piece also highlighted Zhao’s past legal troubles in the US and his evolving role as a regulatory advisor.  

Meanwhile, Malaysian Prime Minister Anwar Ibrahim has publicly confirmed his meeting with Zhao, offering a more positive framing of their discussion. In a post on X, Anwar stated, "Today I had a productive meeting with CZ, founder of Binance, to discuss the potential for Malaysia to become a major hub in the growing digital assets and blockchain industry."  

Saya telah mengadakan pertemuan dengan Pengasas Binance, CZ untuk membincangkan potensi Malaysia sebagai hab utama dalam aset digital dan industri blockchain yang semakin berkembang.

Saya mengalu-alukan perbincangan berterusan bersama agensi seperti Suruhanjaya Sekuriti, Bank… pic.twitter.com/Ayr2lj6rb2

Anwar’s statement emphasized Malaysia’s proactive stance towards the digital asset space, noting his welcome for "continued discussions with agencies such as the Securities Commission, Bank Negara Malaysia and the Ministry of Digital to explore ways to facilitate and promote responsible innovation."  

The Prime Minister further highlighted the crucial role of government leadership in driving blockchain adoption, citing examples such as digitization and exploring the tokenization of financial instruments. "With the right steps, Malaysia can position itself at the forefront of this global digital transformation," Anwar concluded.