Changpeng Zhao, CEO of cryptocurrency exchange Binance, has filed a lawsuit against Bloomberg Businessweek, accusing the publication of defamation.
The lawsuit has been filed with a Hong Kong court. Zhao claims that the 250th edition of Bloomberg Businessweek China contains material that is defaming and damaging to the image of the company’s CEO.
According to court documents, China’s Bloomberg Businessweek magazine titled the CZ story as “Changpeng Zhao’s Pyramid.” The head of Binance has also pointed out in the lawsuit the promotion of this article on Twitter and Facebook.
Zhao lawyers have stated that the English-language article also contained defamation and unsubstantiated accusations. They are intended to “mislead readers into believing that Zhao and Binance are engaged in illegal or questionable activities.”