Binance CEO CZ sues Bloomberg for defamation. CZ’s defense argued Bloomberg’s defamatory issues on him harmed his public image and caused distress and embarrassment.
The CEO of crypto Exchange Binance, Changpeng Zhao, often known as CZ, has reportedly filed a lawsuit against Bloomberg Businessweek for three “defamatory” statements published through the publication’s Chinese edition—which is distributed in Hong Kong
CZ is suing the publication company based on their 250th issue, which when translated into English, is titled “Zhao Changpeng’s Ponzi Scheme.”
Zhao is also suing the publication for reusing that phrase twice more in their Twitter and Facebook posts promoting the article.
The lawsuit filed by CZ asks the publishing company to take down the defamatory report and issue a formal apology to CZ. Along with that, the lawsuit will demand monetary compensation for the damage caused to his reputation.
Be accountable for your actions.
— CZ 🔶 Binance (@cz_binance) July 25, 2022
CZ has also seemed to confirm his involvement with the case after he retweeted Watcher Guru’s tweet on the report, as well as tweeting and retweeting a cryptic message of “Be accountable for your actions” after news of his lawsuit spread.
Not His First Defamation Lawsuit
This is not the first time that the Binance CEO has sud a major news outlet for defamation. Back in 2020, CZ had also filed a lawsuit against Forbes in the US over an article that accused the firm of secretly working to funnel money and evade regulators. Binance however dropped that lawsuit in early 2021.