Binance sues Bloomberg


said current Binance CEO Changpeng Zhao (commonly referred to as CZ). file a complaint against Bloomberg’s Hong Kong branch, Modern Media Company.

Doubtful? An article published on June 23 titled “Can the Richest Man in Crypto Resist the Cold?” This article needs clarification slanderous and unfoundeddamaging the image of a well-known cryptocurrency buying platform and its founder.

An article that does not live up to CZ’s expectations

Changpeng Zhao has already commented shortly after the publication of the article in question. Dissatisfaction with Twitter.

The Binance founder specifically stated that this article was in no way consistent with what was announced and that it was clearly oriented put him and his company in a bad light. Furthermore, according to CZ, the positive comments were deliberately excluded and the negative ones, even if old, would have been favored.

In addition to this alleged journalistic bias, the article, according to CZ, will still contain: various defamatory statements which implies that Binance and Zhao were “involved in illegal or questionable activities”.

The complaint concerns, in particular, the following facts:

  • Mention by an anonymous trader who claims that Binance is a “huge shitcoin casino” without foundation of the claim however, provide evidence without the possibility of verifying its identity.
  • This is implicit in the claim that fraud, hacking and money laundering are part of the history of cryptocurrencies and that large companies will also be affected. Binance could be part of it.
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The Chinese article adds a layer

If the original article was enough to piss off Changpeng Zhao, the resulting Chinese translation certainly didn’t help defuse the situation, even if it did. poured gasoline on the fire.

For example, the Chinese version of Bloomberg Businessweek Issue 250, originally titled “Changpeng Zhao’s Ponzi Scheme,” left no room for doubt or interpretation. The worst is that the article does not prove this claim.which, therefore, can be considered as pure slander.

Bloomberg tries to calm the situation

To ease tensions after the release of the Chinese edition, publisher Bloomberg Businessweek invited Binance to participate. Contact contemporary mediapublisher of this translation and official partner of Bloomberg in Hong Kong.

Subsequently agreement was reached between Binance and Modern Media, resulting in the return of physical copies and deletion of messages associated with this article.

However, the cryptocurrency exchange believes the deal not fully implementedas far as it was possible to obtain the 250th issue of the magazine, the only difference was the title, which was changed to “Mysterious Changpeng Zhao”.

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Howa complaint has been made against Modern Media in Hong Kong and also against Bloomberg in New York.

CZ insisted that Modern Media was a very influential company and that these comments would help spread hatred against him and damage his reputation.

This is not the first time this has happened.

Love definitely doesn’t sit well between CZ and the media. In fact, the founder of Binance has already filed a complaint against Forbesanother important vector for the same reason.

The target article stated that Binance engaged in illegal activities to get around the rules and earn more.

However, this complaint was denied within a few months. In addition, the central lock does not shine do not hold a grudgeto the point that just a year later, Binance announced that it would invest a whopping $ 200 million to become a shareholder of a well-known American magazine.

So who knows, maybe this conflict with Bloomberg will end anyway …

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