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CZ Dismisses Claims of Testifying Against Justin Sun: “WSJ Is Trying Hard”

Binance founder Changpeng Zhao, also known as CZ, is pushing back against fresh claims that he agreed to testify against Justin Sun, the founder of Tron, as part of his settlement with U.S. authorities. The Wall Street Journal, in a report published on April 11, cited unnamed sources suggesting that Zhao had cooperated with the U.S. Department of Justice (DOJ) by offering to provide evidence on Sun. Zhao, now free after serving a four-month sentence for anti-money laundering violations , wasted no time addressing the allegations publicly. “WSJ is really TRYING here,” he wrote on X the next day. “They seem to have forgotten who went to prison and who didn’t. People who become government witnesses don’t go to prison. They are protected.” In the same post , Zhao hinted at foul play behind the scenes, implying the Journal may have been incentivized to publish a “hit piece.” According to him, multiple people had already tipped him off that such a story was in the pipeline. Sun Still Calls CZ a Mentor Justin Sun, who’s been the subject of ongoing scrutiny himself, responded calmly to the uproar. “I am not aware of the circulation rumors,” he said in an April 11 post, referring to the allegations. He went on to describe CZ as both a “mentor and close friend,” suggesting no friction between the two on record. Zhao, for his part, appeared to take the situation in stride but warned that such reports may not be isolated incidents. “I also heard some rumors about some players ‘lobbying’ against us again in the US,” he added , alluding to past efforts by FTX to tighten regulatory pressure on Binance. Back in November 2023, Zhao had claimed that FTX actively lobbied for a regulatory clampdown on Binance to grab market share, referencing a Federal Newswire report as evidence. Crypto Lobbying Fuels Distrust in Washington The controversy also comes on the heels of growing concerns over crypto industry influence in U.S. politics. According to a March report by the Center for Political Accountability, crypto-related entities have poured more than $134 million into the 2024 U.S. elections. While intended to shape a favorable regulatory landscape, these political contributions are now raising alarms over transparency and public trust. The post CZ Dismisses Claims of Testifying Against Justin Sun: “WSJ Is Trying Hard” appeared first on TheCoinrise.com . BitcoinSistemi

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Expert Analyst Warns Bitcoin/VIX Is Not Bullish: Bear Market Signals

Technical expert Tony Severino has warned that the Bitcoin/VIX is not as bullish as market participants might believe. Instead, the expert revealed that the current indicators point to the flagship crypto being in a bear market. Bitcoin/VIX Points To A Bear Market: Analyst In an X post, Severino warned that the Bitcoin/VIX isn’t bullish as some crypto influencers might paint it out to be. He remarked that the technical analysis of it suggests that the current signals are what market participants tend to see during Bitcoin bear markets. However, the expert noted that the month isn’t over yet, which suggests that these indicators could still turn bullish. Severino previously highlighted several reasons why he is no longer bullish on Bitcoin and other crypto assets. Back then, he alluded to BTC’s chart, which, based on the Elliott Wave theory and other technical indicators, showed that the flagship crypto has likely topped in this market cycle. Amid Severino’s warning, crypto analysts like Saeed have offered a more bullish outlook for Bitcoin. Saeed stated that this correction is simply a healthy retracement and that the flagship crypto’s broader trend is still bullish. The analyst highlighted $85,000 as the level Bitcoin needs to break above to reach new highs. The macro side also looks to be bullish for Bitcoin at the moment. The latest CPI and PPI inflation data, which were released, came in lower than expectations, raising hopes of a Federal Reserve rate cut soon. According to a recent report, Boston Fed President Susan Collins also assured that the US central bank is ready to help stabilize the market if necessary. With US President Donald Trump’s tariffs persisting, the US Fed might have to step in soon, which is bullish for Bitcoin and other crypto assets, as more liquidity will flow into them. Bullish Technical Analysis For BTC In a recent X post, crypto analyst Titan of Crypto revealed that Bitcoin is forming an inverse Head-and-Shoulders pattern, although it still looks like a clean retest for now. He remarked that if this pattern plays out, the flagship crypto could reach $125,000 this year, marking a new all-time high (ATH). Meanwhile, crypto analyst Rekt Capital revealed that Bitcoin is developing another Higher Low on the Relative Strength Index (RSI) while forming Lower Lows on the price. He noted that throughout the cycle, BTC has formed bullish divergences like this on a few occasions. This is a positive for the flagship crypto, as each divergence has always preceded reversals to the upside, indicating that BTC could again rally to the upside soon. Related Reading: Whale Alert: Ripple Sends 200 Million XRP Into The Shadows At the time of writing, Bitcoin price is trading at around $83,400, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pexels, chart from TradingView BitcoinSistemi