Binance, the world’s largest cryptocurrency exchange, sued Forbes. Forbes recently made a report stating that the Malta-based stock market is trying to evade regulations.
Binance sued Forbes and its 2 reporters for deliberately defamatory news about the exchange. In a file that the exchange submitted to the New Jersey District Court yesterday, he stated that the “leaked” Tai Chi documents showing that Binance is trying to circumvent Bitcoin regulations have false, misleading and defamatory information.
The news in Forbes was written by the agency employee Michael del Castillo, and additional documents were attributed to Jason Brett. In the file submitted to the court, these two names were also included in addition to the Forbes company.
The text in Forbes is based on the Tai Chi file, allegedly prepared by a senior executive at Binance and later seen by other top executives, including CEO Changpeng Zhao, whom everyone knows as CZ. According to the report, there were plans for the establishment of Binance US, which will be a subsidiary of Binance, to create the perception that the company is supposedly independent, and to divert the attention of regulators and transfer the revenues to the parent company Binance under the name of license fees.
“There’s no truth to it, it’s just a lie”
Binance stated in the case file that the defense allegedly implied that they were an organization trying to evade regulations, a company with money laundering characteristics, and that it was false information that was extremely defamatory for the stock market and had no truth in it.
Binance claims compensation
While Binance stated that he had to sue Forbes for not publishing any apology or disclaimer, the stock exchange also demands compensatory and punitive damages in addition to the removal of the article. A Binance spokesperson on the issue said that they also support freedom of the press, but they think that justice must be provided for the false information and truth to be revealed.
On the subject, Forbes Communications Manager Matthew Hutchison made a brief statement stating that they are behind their news.