The WSJ report linked CZ with Trump-backed World Liberty Financial through the support of Steve Witkoff and his son Zach Witkoff for WLFI's expansion in the Middle East.
In response, CZ denied any personal or professional connections to WLFI or its leadership, stating that he had never promoted the project and described the report as a 'smear piece'.
Zhao indicated that the WSJ's questions were based on incorrect assumptions and factual inaccuracies, and he dismissed the allegations that he facilitated international promotional efforts for WLFI.
CZ criticized the WSJ's coverage as biased and irresponsible journalism, emphasizing his lack of involvement with the project and asserting that the report did not adhere to professional standards for investigative reporting.