Changpeng Zhao, the CEO of Binance, often known by his alias CZ, is suing Bloomberg Businessweek in the Hong Kong High court for slander. The CEO of the biggest cryptocurrency exchange filed a lawsuit, claiming that the article published by Bloomberg Businessweek on July 6 defamed him. He said that fabricated and unverified criminal accusations were put on the report’s cover and in the accompanying news that was released.
- Changpeng Zhao filed a lawsuit today (25th) in the Court of First Instance of the High Court of Hong Kong against Bloomberg Businessweek/Chinese-language publisher “Modern Media” for defamation, claiming that the false report caused the plaintiff to feel pain and embarrassment, and therefore asked the defendant to fully file a lawsuit against him. and apologized and compensated for its losses.
The 250th issue of Bloomberg Businessweek is blamed in CZ’s lawsuit.
The slander case brought by CZ draws attention to the 250th CZ-related article in Bloomberg Businessweek. Changpeng Zhao’s Ponzi Scheme was the misleading title of the issue’s cover. The lawsuit also makes reference to Facebook and Twitter posts and the 250th edition.
CZ, one of the well-known figures in the sector, emphasized in the lawsuit that Modern Media is a powerful and significant medium and that the slanderous news is fomenting hatred and damaging CZ’s reputation.
The complaint demands that Modern Media retract the false claim and formally apologize to CZ. Additional payment has been requested in order to make up for the harm done.
Over the past five years, Binance, which was created in 2017, has experienced the most impressive growth. Recently, the exchange commemorated its fifth birthday. A recent milestone for CZ’s exchange was when the exchange switched Coinbase for the largest amount of bitcoin stored.
Binance has also announced a number of prizes and no-fee bitcoin trading as part of its fifth anniversary. Even during the crypto cold, when businesses were cutting staff and fighting to survive, Binance showed its resiliency.
The complaint also emphasized CZ’s humiliation and suffering as a result of Bloomberg’s inaccurate reporting.