Binance CEO Changpeng Zhao files a libel suit against Bloomberg

Changpeng Zhao (CZ), founder and CEO of Binance, has filed a lawsuit against Bloomberg. The billionaire believes the media have posted defamatory comments about him and his cryptocurrency exchange platform. On Twitter, CZ revealed the behind-the-scenes story of the case.

Changpeng Zhao files a lawsuit against Bloomberg

Changpeng Zhao (CZ), the founder of Binancehas just filed a lawsuit against Modern Media Company Limited, the independent publisher behind the media Bloomberg Business Week in Hong Kong. In documents accessible online, we learn that the billionaire believes the media published false, malicious and defamatory statements “ about him and Binance.

Before the Hong Kong High Court, the chief executive points the finger in particular at the presence of the phrase ponzi scheme in Bloomberg’s portrait. When he was contacted for a series of photos, the article was to be titled “Will the richest man in cryptocurrency be able to withstand the cold? “, in reference to the bear market. Eventually, the article was published under the title “Ponzi scheme of Changpeng Zhao”.

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

According to Changpeng Zhao, it 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 obviously designed to trick readers into believing that Zhao and Binance were involved in illegal or disreputable activities.”

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Binance founder speaks on Twitter

On his Twitter account, Changpeng Zhao briefly talked about the complaint. The leader did not mince words. In particular, he considered it “Most Bloomberg reporters are good, but this time it went badly.”. He also returns to the circumstances of his interview with reporters:

“Bloomberg: Hey, we’ll take a nice portrait of you, invite you for photo shoots, etc. So let’s change the story at the last minute. We’ll ignore all positive feedback from third parties. I’ve only selected old negative reviews. And we always put you in mind. cover. WTF!? Unprofessional. “

CZ therefore calls for the article to be withdrawn, the defamatory statements to be corrected as well as damages. Note that it 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.

👉 Read also – Reuters Investigation accuses Binance and Changpeng Zhao of favoring money laundering

Sources: Corte Listener, Twitter

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