Binance CEO sues Bloomberg subsidiary alleging defamation

Binance CEO sues Bloomberg subsidiary alleging defamation

Binance CEO Changpeng Zhao is suing Bloomberg Businessweek in Hong Kong, accusing the outlet of defamation.

On Monday, the Binance CEO, known by the crypto community as “CZ,” sued Bloomberg Businessweek’s Hong Kong publisher Modern Media Company Limited. Modern Media is an independent entity that licenses Bloomberg content.

The filing contained defamation claims which stem from a translated Chinese article that alleged the exchange boss was running a crypto Ponzi scheme.

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The filing documents claimed that Modern Media published a report that “contained false, malicious and defamatory statements about Zhao and his company, Binance Holdings Limited.”

The Chinese edition ran its version of a June 23 Bloomberg article titled “Can Crypto’s Richest Man Stand the Cold?” but was published with the title “Zhao Changpeng’s Ponzi Scheme.”

On June 25, CZ commented

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