Binance legal team sues Bloomberg Businessweek magazine

Hello friends readers and followers, today I bring you a few lines with the purpose of putting in the balance a new chapter in the cryptocurrency market, if you remember recently there were irresponsible actions and negative signals against several cryptocurrency exchanges, there were also conjectures that indicated that the Bitcoin network protocol is the largest Ponzi scheme in history.

Irresponsible conjecture that the Bitcoin network protocol is the largest Ponzi scheme in history came from some Chinese government spokespersons, and then the business magazine Bloomberg Businessweek began a defamatory line to the point of circulating that Binance was also a Ponzi scheme.

The information disclosed in Bloomberg Businessweek against Binance, had repercussions as Changpeng Zhao, current CEO of the largest Bitcoin and cryptocurrency exchange on a global scale, together with his legal team decided to take legal action against Bloomberg for alleged defamation.

According to what I was able to research in multiple cryptocurrency news portals, Changpeng Zhao and his legal team believe that the cover of the report and related news released by Bloomberg included false and unproven criminal charges, which is evidently a clear defamatory action aimed at discrediting both Binance and the cryptocurrency market in general.

It is known that the lawsuit was filed in the High Court of Hong Kong, as evidences related to the sudden change of the publication of Bloomberg magazine in its China version, which initially published the following "Changpeng Zhao's Ponzi scheme" and then was changed to the title "The mysterious Changpeng Zhao".

It is claimed that this is not the first time that the Binance executive and founder, has been in court against a media outlet or journalists. as in 2020 Binance executives filed a lawsuit against Forbes and two of its reporters, whom they accused of defamation.

In particular, I believe that the action taken by Binance's executive and legal team goes in the right direction, since for a disclosure magazine to make statements such as those made by Bloomberg, it must do so as long as there is evidence, because otherwise they are simply unfounded and malicious conjectures.