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Binance sues Forbes and two reporters for defamation

Bitcoin and cryptocurrency exchange Binance filed a lawsuit Wednesday against Forbes and two of its reporters, whom it accuses of defamation. The exchange house filed a complaint in a New Jersey court in which it targets the media outlet, Michael del Castillo and Jason Brett.

Binance noted in the lawsuit that a report released by Forbes on October 29 is full of numerous false, misleading and defamatory statements. The media published an article denouncing that the company had designed a strategy to evade regulations in the United States.

“All of these statements by the defendants, as well as the full list of statements in the article below, are false and defamatory. Among other things, neither Binance, nor anyone on its behalf, created the alleged 2018 slide show referenced in the article, ”the 12-page document can read.

The company claims compensation for damages, that it be granted permanent precautionary measures to “prevent the defendants from making the same defamatory statements”, that the published article be eliminated, a resolution that covers the costs of the trial and any other reparation that the court deems appropriate.

Previously Binance would have requested a public apology from reporters for the disclosure of the note. However, the application indicated that the request was not attended by the defendants or by the media.

Who is telling the truth, Forbes or Binance?

Forbes says in its article that Binance had a strategy to create a US subsidiary nicknamed “Tai Chi entity.” In the leaked document cited by the media, it is said that the new entity would be used to mobilize resources from Binance.

A spokesperson for the exchange stated that Binance supports freedom of speech and information. The spokesperson said that the cryptocurrency industry needs means that will put pressure on companies to be held accountable and inform the public about their operations, Coindesk reported.

On the same day that the article was published, Binance CEO Changpeng Zhao indicated that the review is based on third-party documents and was not compiled by Binance. In addition, he stressed that the company has sought to license in multiple jurisdictions to “do things right,” according to a note published by CriptoNoticias.

In the past Zhao has also performed accusations against other media and announced new lawsuits. This was the case in November of last year when he asserted that he would file a lawsuit against The Block. The outlet reported that Binance’s Shanghai office was a target of the China police.

According to figures from the CoinGecko service, Binance is the largest bitcoin and cryptocurrency exchange on a global scale. Traders and traders trade around $ 5 billion every 24 hours on its platform. It currently maintains 874 exchange pairs, 258 currencies, and more than 28 million visits to its website.