The CEO of the world’s largest cryptocurrency exchange Binance, Changpeng Zhao is actively suing Bloomberg Business Week in Hong Kong for publishing three defamatory statements that portray Binance’s CEO in a negative light.
Binance CZ Sues Bloomberg Businessweek Hong Kong
CZ is suing Bloomberg Businessweek for publishing an article titled “Can Crypto’s Richest Man Stand The Cold.” Zhao is accusing the media house of allegedly twisting his words and statements during an interview conducted earlier. He further added how the media house had switched his story last minute to portray him adversely.
BREAKING: #Binance CEO has filed a defamation lawsuit against Bloomberg.
— Watcher.Guru (@WatcherGuru) July 25, 2022
According to the official court filing procured by Decrypt, Binance’s CEO is preparing to file a “class suit” against Bloomberg business week for a Chinese article issued in Hong Kong that accuses him of running a Ponzi scheme. Zhao’s representatives further stated that the published assertions were “calculated to hold (Zhao) up to hatred, contempt, and ridicule.”
In addition to this, Binance’s CZ added that Hong Kong Businessweek had changed the main story snippets last minute and only picked the old negative statements, an action that Zhao referred to as extremely “unprofessional.”
Bloomberg: hey, we will do a nice profile piece on you, invite you for photoshoots, etc. Then switches the story last minute. Ignore all positive comments they got from 3rd parties. Picked only old negatives. And still puts you on the cover. WTF!? Unprofessional.
— CZ ?? BINANCE (@cz_binance) June 24, 2022
According to the memorandum of the filed in New York, the application states that the “contained several serious and defamatory allegations made against Zhao and Binance that were completely unsubstantiated, and were obviously designed to mislead readers into believing that Zhao and Binance have been engaging in illegal or unsavory activities.”
This isn’t the first time when Binance’s CEO Changpeng Zhao has accused a media house of issuing defamatory statements. In 2020, Binance had sued Forbes for issuing dubious statements but had dropped the lawsuit last year.
