Friday, October 7

Bloomberg Media Is Sued for Reporting False, Malicious, And Defamatory Statements About The Binance’s CEO

Bloomberg Businessweek in Hong kong will be sued by Binance CEO, CZ for defamation of character. The latter has once sued a media, Forbes LLC in 2020 for the same offense but later left the case the following year.

As mentioned earlier, the reason for the filing is defamation of character, it happened when Bloomberg a report that contained false, malicious, and defamatory statements about the CEO of the biggest crypto exchange, Binance CEO and his company, Binance Holdings Limited.”

Far back as June 25th, the Chinese edition tagged its version of the news as “Can Crypto’s Richest Man Stand the Cold?” but was published with the title “Zhao Changpeng’s Ponzi Scheme.”

The Binance CEO, CZ replied to the statement with immediate effect “While most journalists at Bloomberg are good, this time, it was bad.” On Monday he stated, “Be accountable for your actions.”

As stated by the Cointelegraph the filing has nothing to the company or exchange, it is purely individual-based. It is good to know that Bloomberg also filed for a motion of discovery in the United State for the defamation that came from the original article. It read:

“Surprisingly, the Original Article contained several serious and defamatory allegations made against Zhao and Binance that were completely unsubstantiated and were designed to mislead readers into believing that Zhao and Binance have been engaging in illegal or unsavory activities.”

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Binance’s CEO requested that Bloomberg is barred from ever republishing the allegedly defamatory statements in Hong Kong and also that he likes to see the post removed and the damages should be paid with interest.

The title of the defamatory statement was later changed to  “The Mysterious Changpeng Zhao.” To suit the CZ concerns as requested. Much more, the defamatory social media posts were deleted and physical copies of the translated article had been recalled in Hong Kong.

Binance Head In Africa For Expansion

As reported by Cryptolifedigtal, in the quest for the largest cryptocurrency exchange to cut across the globe, the CEO of Binance, Changpeng Zhao, “CZ” held a consultative meeting with various officials in Côte d’Ivoire as his crypto exchange seeks to expand its presence in Africa.

Interestingly, Africa is the second-largest populated continent globally with about 1.5 billion people, research revealed that 2% of this great population involve in cryptocurrencies yet 80-90% of the population live an unbanked lifestyle. This implies that crypto has a lot of space to fill in this part of the world.

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