Binance CEO Changpeng Zhao filed a lawsuit against Bloomberg Hong Kong company ‘Modern Media CL’, claiming that there was defamation over his company on a translated Chinese article portraying Binance as a ‘Ponzi Scheme’.
The article portrayed Binance as a massive ‘S**tcoin casino’ where in cryptocurrency terms, that means that Binance is listing projects with a high chance of being a scam or illegitimate projects.
The Chinese edition ran its version of a June 23 Bloomberg article titled “Can Crypto’s Richest Man Stand the Cold?” but was published with the title “Zhao Changpeng’s Ponzi Scheme.”
This is not the first time Binance has sued a major publishing company. Back in 2020, Zhao also filed a case against Forbes due to defamation.
Last July 25 of 2022, CZ brought his frustration to Twitter, tweeting, “Be accountable for your actions”.