Binance CEO Changpeng Zhao files defamation lawsuit against Bloomberg

Changpeng Zhao (CZ), the founder and CEO of Binance, filed a lawsuit against Bloomberg. The billionaire believes the media has published defamatory remarks about him and his cryptocurrency exchange platform. Taking to Twitter, CZ revealed behind the scenes of the case.

Changpeng Zhao files lawsuit against Bloomberg

Changpeng Zhao (CZ), the founder of binancehas just filed a complaint against Modern Media Company Limited, the independent publisher behind the media Bloomberg BusinessWeek in Hong Kong. In documents available online, we learn that the billionaire believes the media has published ” false, malicious and defamatory statements” about him and about Binance.

In the High Court of Hong Kong in particular, the CEO points the finger at the presence of the term Ponzi scheme in the Bloomberg portrait. When he was contacted about a photo series, the article should be titled “Can the richest crypto man handle the cold? », in relation to the bear market. Eventually, the article entitled was published “Changpeng Zhao’s Ponzi scheme”.

The Binance executive also regrets that Bloomberg used the phrase twice more in posts on Twitter and Facebook to promote the item. For the billionaire, the journalist voluntarily tried make fun of him.

According to Changpeng Zhao also contains the English version of the article defamatory passages. According to the contractor’s lawyers, it contained “Several serious and defamatory allegations against Zhao and Binance that were completely unfounded and which were apparently intended to mislead readers into believing that Zhao and Binance were engaged in illegal or shady activities.”

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Binance founder comments on Twitter

Changpeng Zhao spoke briefly about the complaint on his Twitter account. The leader didn’t mince his words. He took that into account “Most Bloomberg reporters are good, but this time it was bad”. He also goes back to the circumstances of his interview with the journalists:

“Bloomberg: Hey, we’ll do a nice portrait of you, take you to photoshoots, etc. Then we’ll change the story at the last minute. We will ignore all third party positive feedback. I only selected old negative reviews. And we always get you on the cover. WTF! ? Unprofessional. »

CZ therefore demands the withdrawal of the article, a correction of the defamatory statements and compensation. Note that this is not the case not the first time that CZ files a complaint against a medium. In 2020, he had previously filed a complaint against Forbes over similar facts before withdrawing.

👉 Also Read – Reuters Inquiry Accuses Binance and Changpeng Zhao of Facilitating Money Laundering

Sources: Court Listener, Twitter

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