Changpeng Zhao accused the Hong Kong division of Bloomberg of defamation

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The CEO of the world's largest crypto exchange, Binance, is suing Bloomberg Businessweek for a publication that the businessman believes defameshimself and company.

Changpeng Zhao has filed a lawsuit with the Supreme Court of Hong Kong, accusing him ofBloomberg is defaming and demanding damages for a phrase published in the press, online, Twitter and Facebook, which translates to "Changpeng Zhao's Ponzi Scheme."
The article is titled "Can the Richest Person in Crypto Survive the Crypto Winter?".

Zhao claims that the publication's statements were calculated to arouse hatred and contempt for the businessman in readers.The author of the publication, the plaintiff insists, belittled his dignity in the eyes of members of the crypto community and partners.At the same time, Binance announced that Zhao's statement is a "personal lawsuit" unrelated to the crypto exchange.

Legal Counsel Zhao
clarified that the claims are "published in a sensational manner" and are intended to mislead readers into believing that Zhao and Binance – presented in the article as a "huge shitcoin casino" – are engaged in illegal or questionable activities.Back in June, Zhao negatively
commented on the article on Twitter, but then the matter did not go beyond a comment.  

"Although most of the journalists at Bloomberg are good, this time it was bad," Zhao criticized the article.

As a result, the businessman intends to seek a ban on Bloomberg to remove and not republish the material, erase comments and reviews on the publication and compensate for the losses incurred.

Recall that in 2020, Zhao accused Forbes of defamation.Then the Binance crypto exchange withdrew the lawsuit against Forbes Media journalists who published materials allegedly discrediting the reputation of the businessman.