Binance Sues Forbes Journalists

by in DeFi News

Binance sues Forbes

The crypto trading platform Binance has sued Forbes and two authors for issuing an article in October that the company finds defamatory.

The suit, submitted in US District Court in New Jersey, claims that the article—” Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme to Evade Bitcoin Regulators”— carries many inaccurate, misleading, and insulting allegations about the protocol.

The author of the story was Forbes staff writer Michael del Castillo, with extra reporting done by Jason Brett. The writers are mentioned in the case with Forbes.

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The suit lists 19 comments it claims are incorrect, misleading, and slanderous. There were also allegations that Binance US was set up to avoid anti-money-laundering laws and sales process back to Binance, allowing it to “secretly earn from crypto investors in the US.”

A representative for Binance said that their team support freedom, including liberty of information, press, and accountability. According to him, the suit is not a reflection against the idea of liberty but securing the truth and integrity. Binance noted that, as it did not get a recall and explanation from Forbes, it’s moving forward with the lawsuit. The firm is seeking compensatory and financial damages as well as for the story to be removed.