Jack Zhang’s Airwallex brings in former Trump A-G to fend off US backlash

Opinion

October 23, 2026 — 5:00am

The world according to Airwallex co-founder Jack Zhang would have it that concerns aired by a Republican-controlled congressional committee in the US over the company’s links to China are a conspiratorial political campaign seeded by competitors.

So it’s little wonder the Melbourne-founded fintech start-up has brought in big-name reinforcements to suck the oxygen out of the China talk, led by Trump’s former US attorney-general Bill Barr.

Fresh lobbying disclosures released this week show Barr’s firm was retained by Airwallex to lobby members of the House of Representatives, the Department of Justice, and the Treasury Department, on the heels of the mounting Republican backlash.

Barr, who served as attorney-general under Trump for about two years from early 2019, has worked as an adviser to Airwallex since at least September, when he signed a letter addressed to the committee’s chairman, Republican John Moolenaar, defending the company.

That letter to Moolenaar was dashed off in response to a letter from Moolenaar to Treasury secretary Scott Bessent. In that one, Moolenaar raised concerns about Airwallex’s links to China having the potential to compromise “sensitive US financial data” and presenting “significant national security risk exposure”.

But Zhang, who we’re surprised has any time to run his company between his frenzied posts to X, argues the allegations-cum-concerns don’t originate from a security breach, regulatory findings or questions raised by national security agencies.

Instead, Zhang blames high-profile Silicon Valley venture capitalist Keith Rabois, a member of the so-called PayPal Mafia whose Khosla Ventures backs the company Ramp, another payments business.

“Airwallex is confronting a competitor-driven smear campaign in the United States over data security and sovereignty,” an Airwallex spokesman told CBD. “Former US attorney-general William Barr is one of the most respected voices in Washington and is supporting the company against this baseless campaign.”

Airwallex, of course, isn’t only under fire in the US. In January, Australia’s financial crimes agency, AUSTRAC, ordered the appointment of an external audit of the start-up to assess whether it was meeting its obligations, because the regulator suspected “serious non-compliance”.

It’s been a big 12 months for Airwallex. In January, the company threatened media outlets, including this masthead, with legal action if they didn’t remove coverage that cited internal documents.

Then there was the callout to influencers asking for posts describing Zhang as an “aspirational operator”.

And that’s before we get to the rotation of corporate communications advisers the company has had over the past year or so.

From where we’re sitting, Barr might need some help.

Cat’s change of heart

Glamorous resort town Byron Bay is abuzz with talk of an off-market real estate deal gone bad.

Amid a declining property market after four interest rate hikes this year by Michele Bullock’s Reserve Bank, CBD hears a millionaire buyer has had a change of heart on their $9.5 million purchase of a 35 hectare-plus holding in the hinterland village of Newrybar.

The land in question is about a 15-minute drive from Byron and is near to slices of paradise owned separately by Liam and Chris Hemsworth.

Word is the businessman, who already has significant business and real estate interests in the area, has forfeited almost $1 million for the deposit lodged last year, which may not fully offset what several local real estate agents reckon would be a significant drop in the value of the land since the deal was first struck.

The rural holding sits on an exclusive ridgeline offering panoramic ocean and hinterland views. The owners wanted to develop it, but had multiple applications rejected by Ballina Shire Council.

Sources report that local real estate baron and media proprietor Antony Catalano, who’s had success in gaining approval for multimillion-dollar developments on sensitive sites in the area, was the buyer of the Old Byron Bay Road property.

Repeated attempts over recent weeks by CBD to confirm this with the man himself, who is facing eight charges relating to an alleged violent domestic assault of his wife Stefanie in their St Kilda penthouse apartment in March, went unanswered.

The owner of the property and the sales agent were contacted but did not respond.

In August last year, Catalano set up corporate vehicle Old Byron Bay Farm Pty Ltd, with his eldest son, Jordan Catalano, as a director. This July, Jordan was replaced by Antony and Stefanie, who have reconciled since the alleged assault. The company is owned by their Kirant Holdings.

The failure to settle on the Newrybar land has had a ripple effect. The vendor had gone on to negotiate the purchase of another luxury property in Byron. That deal has now also fallen through, with the house back for sale with a reduced $4.5 million asking price.

Please, explain

Pauline Hanson said this week she’d take a closer look at future videos in her Please Explain cartoons.

This was after the One Nation leader apologised for mocking independent Tasmanian senator and army veteran Jacqui Lambie’s vaginal prolapse in an episode of what Hanson describes as her satirical take on politics.

When Lambie first objected to the cartoon mocking her, Hanson told her Senate colleague to “lighten up” and “get over it”. “It’s actually satirical,” she said.

As well as looking forward, Hanson might do well to take a deep dive into her back catalogue, with a Please Explain episode from 2024 re-emerging as our nation processes the horrific and devastating attack on federal MP Helen Haines.

The animation from 2024 features Prime Minister Anthony Albanese, ex-Victorian premier Dan Andrews, national treasure Bluey and zookeeper-turned-TV host Robert Irwin.

First, the former premier drives an SUV into Irwin and Bluey in an apparent reference to Andrews and his wife Catherine’s accident in 2013 with then-15-year-old “bike boy”. In the cartoon Albo is a front-seat passenger.

The pollies dump the bodies in the Yarra, Bluey resurfaces and is next seen slamming the speeding SUV straight into Andrews.

“Oh Bluey, thank goodness, he was completely out of control, right?” Albo says.

The angry blue heeler then reverses the car, turns it around and eyeballs the PM.

“Bluey, you’ve got that crazy look in your eyes,” an increasingly alarmed Albo says.

Cut to the deranged dog. Bluey revs the SUV and drives straight into Australia’s PM.

Roll credits, with Hanson and her national director James Ashby among the work’s producers.

We called One Nation to check on their definition of satire. We’re still waiting to hear back.

Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.

John Buckley is a CBD columnist for The Sydney Morning Herald and The Age.Connect via email.

From our partners