Changpeng Zhao, head of cryptocurrency exchange Binance, filed a lawsuit accusing Bloomberg Businessweek of defamation. This was first reported by the Watcher Guru, Zhao confirmed the information.

LAST MINUTE: #Binance The CEO sued Bloomberg for defamation.

— Watcher.Guru (@WatcherGuru) 25 July 2022

The case was submitted to a Hong Kong court.

Zhao claims that the 250th edition of the Bloomberg Businessweek Chinese Edition contains material that defames and damages the image of the Binance CEO.

According to court documents seen by Decrypt, China’s Bloomberg Businessweek magazine called the CZ story “Changpeng Zhao’s Pyramid”. The head of Binance also pointed to the promotion of this article on Twitter and Facebook in the lawsuit.

CZ is also dissatisfied with the American version of the material:

The comments here say it all. While most journalists at Bloomberg were good, this time it was bad.

— CZ 🔶 Binance (@cz_binance) 24 June 2022

Attorneys for the Binance CEO stated that the article, written in English, also contained defamation and false accusations. The documents are intended to “convince readers that Zhao and Binance are engaged in illegal or questionable activities.”

CZ requests the removal of the materials, the prohibition of their reprinting, as well as compensation for damages.

Recall that in 2020, Binance sued Forbes for “insulting statements”. This was due to the release of serving American customers of the platform, bypassing the regulators.

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