CEO of crypto exchange Binance sues Bloomberg's partner for defamation

Cryptocurrency exchange Binance CEO Changpeng Zhao has sued Bloomberg's Hong Kong partner Modern Media for defamation.

Binance CEO Sues Bloomberg's Hong Kong Partner for Defamation
https://www.coindesk.com/business/2022/07/25/binance-ceo-sues-bloombergs-hong-kong-partner-for-defamation/

Binance CEO Sues Bloomberg's Modern Media for Defamation
https://cryptoadventure.com/binance-ceo-sues-bloombergs-modern-media-for-defamation/

Binance CEO Jao has sued Modern Media, which is responsible for publishing Bloomberg Businessweek , an economic magazine published by Bloomberg, in Hong Kong. The proceedings were disgraced by an article translated from English to Chinese, stating that 'Binance CEO Jao is implementing the Ponzi scheme .'

The cause of the proceeding was the Chinese translation of the following article. The title of the article in English is 'Can the wealthiest man in cryptocurrencies withstand the cold?', And Jao, CEO of Binance, the world's largest cryptocurrency exchange, faces regulations on cryptocurrencies. It is a summary of the facts that exist.

Binance (BNB) CEO Moves to Dubai as US Regulators Target the Crypto Exchange --Bloomberg
https://www.bloomberg.com/news/features/2022-06-23/binance-bnb-ceo-moves-to-dubai-as-us-regulators-target-the-crypto-exchange

After the above article was published, CEO Jao tweeted on his Twitter account, 'Take responsibility for your actions.'

Be accountable for your actions.

— CZ ???? Binance (@cz_binance) July 25, 2022

In addition, citing the English version of the article in question, 'Most of Bloomberg's reporters are good, but the one who wrote this article is terrible.' 'Bloomberg said,'Hey, I want to make your nice profile article. So I'd like to invite you to take a photo, etc. 'and called me and replaced the content of the article shortly before. Ignore all positive comments from third parties and old negative comments I just picked it up, and I'm still on the cover of the article. This is a professional disqualification. '

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

Separately, the article, published in the Hong Kong version of Bloomberg Businessweek, claims that CEO Jao has a Ponzi scheme, with other headlines that spur hatred, contempt, and ridicule. That is.

As a result, CEO Jao has requested the court to withdraw the article, retrieve the Bloomberg Businessweek in which the article was published, and prevent the defendant from spreading defamation to CEO. In addition, CEO Jao has filed a defamation claim in a district court in the Southern District of New York and has filed a discovery request with Bloomberg.

CEO Jao has questioned anonymous trader's comments that he called Binance a 'rough' or 'giant fucking coin casino,' and using these comments in his articles 'Binance for readers. The article is structured to mislead you into thinking that you are violating the law. '

CEO Jao is suing venture capital firm Sequoia for defamation in 2019 and Forbes, an economic newspaper for defamation in 2020. The second proceeding was withdrawn in 2021, but since then CEO Jao has made a strategic investment in Forbes using a SPAC (special purpose acquisition company) scheme.