Bloomberg’s Publisher Nominated by Binance CEO in Defamation Case
Binance CEO – Changpeng Zhao – submitted a lawsuit in Hong Kong High Court of First Instance, prosecuting Bloomberg Businessweek‘s “Modern Media” while accusing it of defamation. In the words of Chanpeng Zhao, Bloomberg Businessweek published a report on 6th July this year due to which he was defamed, and the linked social media, as well as the issue’s cover, contained untrue and baseless criminal accusations against him.
Changpeng Zhao Prosecutes Bloomberg Businessweek for Defamation
The representative of the respective legal case by Changpeng Zhao is Des Voeux Chambers’ José-Antonio Maurellet S.C. confronting Modern Media Company. In this defamation case by Binance CEO, a reference has been made toward the 250th issue of Bloomberg Businessweek regarding Changpeng Zhao. The issue’s cover was misrepresentative and it described Changpeng Zhao’s business as a “Ponzi Scheme.”
Related: Binance Refutes UK Policymaker’s Allegation of a Deliberate Attempt to Sink FTX
In the lawsuit, the videos linked to the 250th issue are also cited along with Twitter as well as Facebook-based posts. Changpeng Zhao, considered among the well-known figures within the crypto industry, pointed out in his case that the position of Modern Media is that of a big as well as a dominant medium and the news (that is focused on his defamation) is disseminating a wrong image of CZ along with damaging the reputation of the Binance CEO.
Binance Leaves behind Coinbase in Bitcoin Holdings
Binance, the crypto exchange that was established 5 years back, has witnessed a huge advancement after its launch up till now. The exchange recently surpassed Coinbase in the case of holdings in Bitcoin, highlighting another landmark within the history of the growth gained by the exchange of CZ. As included in the 5th anniversary of Binance, the crypto exchange has declared to provide some giveaways along with facilitating the consumers with zero charges on Bitcoin trading.
The crypto giant has turned out to be a resilient platform throughout crypto winter, even at the time of terminating the staff as well as endeavoring to maintain its status within the market of cryptocurrency. In addition to this, the legal suit also discussed that the Binance CEO has gone through a lot of distress as well as an embarrassment due to the wrong news spread on the behalf of Bloomberg Businessweek. Nonetheless, it is yet to be seen that what type of impact is put by this case has on the operations of the crypto platform due to the respective defamation case.
