- Binance CEO Changpeng Zhao is suing Bloomberg Businessweek’s Hong Kong publisher Modern Media for defamation.
- The suit comes after a local headline implied the crypto exchange was a “Ponzi scheme.”
- Zhao also filed a motion of discovery against Bloomberg LP and Bloomberg Inc.
Binance’s CEO filed a defamation suit on Monday against Bloomberg Businessweek’s Hong Kong publisher, which ran a local headline that translated to “Zhao Chanpeng’s Ponzi Scheme.”
For Bloomberg Businessweek’s June 23 profile of Zhao, the publisher Modern Media ran with the “Ponzi Scheme” headline, while the English-language edition went with “Can Crypto’s Richest Man Stand the Cold?”.
“Most damningly, the Translated Article’s Title was splashed across a photograph of Zhao, which had been made…
