Binance CEO files defamation lawsuit against Bloomberg

Binance CEO Changpeng Zhao, also known as CZ, has sued Bloomberg Businessweek in Hong Kong for defamation against him.

The head of the world’s largest crypto exchange filed a lawsuit, citing a report published by Bloomberg Businessweek on July 6, claiming that it was a direct defamation. He believes that the cover of the report and related news included false and unproven criminal allegations.

The defamation lawsuit filed by Zhao concerns the 250th issue of Bloomberg Businessweek dedicated to Zhao. The cover of the issue was misleadingly titled «Changpeng Zhao’s Ponzi Scheme». The lawsuit also mentions the distribution of the published content on social media.

Zhao demands that the defendant remove the false information, issue an official apology, and compensate for reputational losses in the form of compensation.