🗣️ Scott Bessent Echoes CZ’s Media War Playbook In Explosive Attack on FT
US Treasury Secretary Scott Bessent accused the Financial Times of fabricating a story claiming he supported modeling Treasury-Federal Reserve (Fed) relations on the Bank of England (BoE) framework.
The explosive denial comes after the FT published its report, citing unnamed financial industry executives.
🔸 Bessent vs. FT and What It Means for Crypto Markets
Bessent called the FT article “explicitly false” and said journalists ignored his direct, on-the-record rejection of the premise.
The FT had reported that Bessent discussed tightening Treasury oversight of the Fed by adopting elements of the BoE’s model, including letter-writing mechanisms between the chancellor and the central bank governor.
💬 “FT has literally manufactured an entirely fake policy position for the Administration and me,” Bessent lamented in a post.
Bessent pointed to his own 20,000-plus words of published commentary on Fed reform, where no such proposal exists.
He also dismissed the BoE’s governor-chancellor letter system as “useless and perfunctory.”
The confrontation carries an echo familiar to crypto audiences. In September 2025, Binance co-founder Changpeng Zhao (CZ) launched a near-identical attack on the FT after it reported that his investment firm YZi Labs planned to raise external capital.
💬 Complete false news from FT, with fake/wrong/made-up info and negative narratives. This is just from what I gathered on social media, I did not even read the FT article. No subscription.
💬 As far as I know: YZiLabs is not raising external fund.
There is no demo. WTF is a demo… — CZ 🔶 BNB (@CZ )
CZ called that story “completely false news” built on “fake/wrong/made-up info and negative narratives.”
Both accused the FT of relying on anonymous sourcing to manufacture positions they never held and of ignoring explicit denials provided on the record.