Changpeng Zhao files defamation lawsuit against Bloomberg Businessweek

Changpeng Zhao, the chief executive of the cryptocurrency exchange Binance, has filed a defamation lawsuit against Bloomberg Businessweek, accusing the publication of defamation. This was initially reported by the Twitter account Watcher Guru, Zhao confirmed the information.

BREAKING: #Binance CEO has filed a defamation lawsuit against Bloomberg.

— Watcher.Guru (@WatcherGuru) July 25, 2022

The suit was filed in a Hong Kong court.

Zhao claims that the 250th issue of the Chinese-language Bloomberg Businessweek contains defamatory and damaging materials about the Binance CEO.

According to court papers reviewed by Decrypt, the Chinese-language edition titled the piece about Zhao as “Financial pyramid of Changpeng Zhao.” Zhao also cited the promotion of this article on Twitter and Facebook in the lawsuit.

CZ is also unhappy with the English-language version of the piece:

The comments here says it all. While most journalist at Bloomberg are good, but this time, it was bad.

— CZ 🔶 Binance (@cz_binance) June 24, 2022

Binance CEO’s lawyers said that the English-language article also contained defamation and unsubstantiated allegations. They are intended to mislead readers into believing that Zhao and Binance are engaged in illegal or questionable activity, according to the filings.

CZ intends to secure the removal of the materials, an injunction against republishing them, and damages.

Earlier in 2020, Binance filed a lawsuit against Forbes over ‘defamatory statements.’ The suit concerned a publication about servicing American clients on the platform in bypassing regulators.

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