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 that the media published defamatory remarks about him and about his cryptocurrency exchange platform. On 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 accessible online, we learn that the billionaire believes that the media has published false, malicious and defamatory declarations” about him and about Binance.

Before the High Court of Hong Kong, the CEO notably points the finger at the presence of the phrase ponzi scheme in the portrait made by Bloomberg. When he was contacted for a series of photos, the article was to be titled “Can the richest man in crypto handle the cold? », in reference to the bear market. Eventually, the article was published with the title “Changpeng Zhao’s Ponzi Scheme”.

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

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

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Binance founder speaks out on Twitter

On his Twitter account, Changpeng Zhao briefly spoke about the complaint. The leader didn’t mince his words. In particular, he considered that “Most Bloomberg reporters are good, but this time it was bad”. He also returns to the circumstances of his interview with the journalists:

“Bloomberg: hey, we’re going to do a nice portrait of you, invite you for photoshoots, etc. Then we change the story at the last minute. We will ignore all positive feedback received from third parties. I only selected old negative reviews. And we always put you on the cover. WTF! ? Unprofessional. »

CZ therefore seeks the withdrawal of the article, a correction of the defamatory declarations as well as damages. Note that this is not not the first time that CZ files a complaint against a media. In 2020, he had already filed a complaint against Forbes for similar facts before retracting.

👉 Also Read – Reuters Investigation Accuses Binance and Changpeng Zhao of Fostering Money Laundering

Sources: Court Listener, Twitter

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