Donald Trump, Elon Musk, and Binance founder CZ have found themselves in the spotlight, immersed in the same storm sparked by The Wall Street Journal. Within a span of few days, the president, internet magnate, and crypto baron all publicly rebuked the iconic newspaper, accusing it of bias, manipulation, and agenda-pushing journalism.
What drives this unusual alignment? It’s not just about headlines, it’s power, perception, and a growing conflict between old media behemoths and today’s most influential voices.
To really understand the irony and influence of this media battle, let’s break down how each of these giant influencers: Trump, Musk, and CZ ended up battling the same headline giant.
CZ Hits Back at WSJ’s “Hit Piece”
On May 22, The Wall Street Journal shared an interesting story about the Witkoff family, showing how Steve Witkoff and his son Zach are making waves in two very different worlds: Steve in diplomacy, and Zach in cryptocurrency. In the same article, WSJ claimed that Binance founder Changpeng Zhao, better known as CZ, acted as a “fixer” for World Liberty Financial’s foreign travels.
CZ didn’t stay silent about the report. He quickly pushed back, calling the piece a “hit piece” full of false assumptions and a twisted narrative. Taking to X (formerly Twitter), CZ expressed his frustration, saying the story wasn’t just flawed by a few errors—it was built on the wrong intentions from the start.
He especially took issue with the fixer claim, clarifying that he never made introductions or arranged meetings, and that he had only recently met one of the people involved. “This is NOT how journalism should work,” he said, stressing the importance of honest reporting for the industry.
Beyond just setting the record straight, CZ hinted at a bigger picture, which suggested that some forces in the U.S. want to hold back crypto’s growth by attacking its leaders. It could potentially slow down America’s chances of becoming the global crypto capital.
Trump Dubs WSJ ‘Rotten Newspaper’
At the start of the month, President Trump clashed with a WSJ reporter aboard Air Force One, calling the newspaper “rotten” and accusing it of being bad for the country. He refused to answer questions from the Journal, saying it would be a waste of his time. Trump even claimed the paper is “China-oriented” and criticized its owner, Rupert Murdoch, calling him a “globalist” trying to block his agenda.
Despite this, on May 22, WSJ reported a news article where Trump revealed that Putin isn’t ready to end the war in Ukraine because he believes he’s still winning. This was a moment of clarity for the Europeans, who have long thought the same.
However, Trump’s stance kept shifting – one day supporting sanctions against Russia, and another day suggesting lower-level talks at the Vatican. He made it clear he didn’t want to fully commit, saying, “This isn’t my war,” leaving allies unsure about U.S. support.
Musk Blasts WSJ Over CEO Exit Rumors
Elon Musk joined other crypto leaders in slamming The Wall Street Journal over what he called false reporting. On April 30, The WSJ claimed Tesla’s board was seeking to replace him as CEO over political concerns.
Musk called it “an EXTREMELY BAD BREACH OF ETHICS,” noting the board had denied it. Tesla chair Robyn Denholm backed him up, saying the story was completely false and the board fully supports Musk.
Musk’s criticism comes amid growing scrutiny over his political role advising former President Trump’s Department of Government Efficiency (DOGE), which some say has affected Tesla’s global reputation. Despite a recent drop in Tesla’s profits and market value, the company maintained its Bitcoin holdings during the first quarter.
Like other crypto leaders, Musk is calling for fair and honest journalism instead of damaging narratives that hurt innovation and growth in the tech and crypto world. The backlash from Trump, Musk, and CZ highlights a growing rift between legacy media and modern tech and crypto influencers.
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