- CZ has accused Modern Media, an independent licensee of Bloomberg Businessweek Hong Kong of being unprofessional
- Zhao has accused the organization of issuing defamatory statements against him and Binance.
The CEO of the world’s largest cryptocurrency exchange Binance, Changpeng Zhao is actively suing Modern media, an outlet responsible of Bloomberg Business Week content in Hong Kong for publishing three defamatory statements that portray Zhao in a negative light.
Binance CZ Sues Bloomberg Businessweek Hong Kong
CZ is suing Modern Media which is responsible Bloomberg Businessweek content for publishing an article titled “Can Crypto’s Richest Man Stand The Cold.” Zhao is accusing the media house of allegedly twisting his words and statements during an interview conducted earlier. He further added how the media house had switched his story last minute to portray him adversely.
According to the official court filing procured by Decrypt, Binance’s CEO is preparing to file a “class suit” against Modern Media,independent licensee of Bloomberg business week content for a Chinese article published in Hong Kong that accuses him of running a Ponzi scheme. Zhao’s representatives further stated that the published assertions were “calculated to hold (Zhao) up to hatred, contempt, and ridicule.” Binance has filed a lawsuit against Modern Media, a company based in China that publishes a Chinese language edition of Bloomberg Businessweek that published a translated version of a Businessweek story that first ran on June 23
In addition to this, Binance’s CZ added that Hong Kong Businessweek had changed the main story snippets last minute and only picked the old negative statements, an action that Zhao referred to as extremely “unprofessional. The lawsuit refers to a headline that was not published in the original English language version of the story.
According to the memorandum of the law filed in New York, the application “contained several serious and defamatory allegations made against Zhao and Binance that were completely unsubstantiated, and were obviously designed to mislead readers into believing that Zhao and Binance have been engaging in illegal or unsavory activities.”
This isn’t the first time that Binance’s CEO has accused a media house of issuing defamatory statements. In 2020, Binance had sued Forbes for issuing dubious statements but had dropped the lawsuit last year.