Changpeng Zhao Sues Bloomberg For Defamation

The head of the cryptocurrency exchange Binance, Changpeng Zhao, filed a lawsuit against Bloomberg Businessweek, accusing him of defamation. Watcher Guru initially reported this, and Zhao confirmed the information.

The lawsuit has been filed with a Hong Kong court. 

Zhao claims that the 250th edition of Bloomberg Businessweek China contains material defaming and damaging to the image of Binance CEO. 

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

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

Lawyers for the CEO of Binance stated that the English-language article also contained defamation and unfounded accusations. They are intended to “deceive readers into believing that Zhao and Binance are engaging in illegal or questionable activities,” the documents state.

CZ intends to obtain the removal of materials, a ban on their reprint, and compensation for the damage caused.