A Bloomberg article was republished by its Chinese subsidiary using the title “Zhao Changpeng’s Ponzi Scheme.”
Binance CEO Changpeng Zhao is suing Bloomberg Businessweek in Hong Kong, accusing the outlet of defamation.On Monday, the Binance CEO, known by the crypto community as “CZ,” sued Bloomberg Businessweek’s Hong Kong publisher Modern Media Company Limited. Modern Media is an independent entity that licenses Bloomberg content.The filing contained defamation claims which stem from a translated Chinese article that alleged the exchange boss was running a crypto Ponzi scheme.