Binance CEO Changpeng Zhao (CZ) is suing Bloomberg Businessweek for defamation in Hong Kong High court.
According to a report in The Hong Kong Economic Times, the world’s largest cryptocurrency The CEO of the stock exchange sued him on the grounds that a news published by Bloomberg Businessweek on July 6 contained defamation against him. He stated that false and unproven criminal accusations were included in the cover of the news and related news.
Binance Founder Claims He Was Insulted in Bloomberg Businessweek Issue 250
Changpeng Zhao is represented by José-Antonio Maurellet, SC of Des Voeux Chambers, in his lawsuit against Modern Media Company. Watcher Guru reported that Changpeng Zhao reached out to them and confirmed the news.
The defamation lawsuit filed by CZ highlights the 250th issue of Bloomberg Businessweek about CZ. According to the plaintiffs, the cover of the issue was misleading and was titled “Changpeng Zhao’s Ponzi Chart”. In addition to the 250th issue, the lawsuit also refers to social media posts on Facebook and Twitter.
CZ, one of the leading figures in the industry, emphasized that Modern Media was an influential and major medium in the case and that defamatory news spread hate and damaged his image.
The lawsuit asks Modern Media to remove the defamatory report and issue a formal apology to CZ. In addition, additional compensation was claimed for the damage caused.
CZ shared a selfie on Twitter with his former boss, the Bloomberg founder.