Binance Holdings Limited sued Forbes Media LLC for defamation Wednesday over a story last month that purported to reveal regulatory evasion tactics employed by the global cryptocurrency exchange.
The suit, filed in the U.S. District Court in New Jersey, claims Forbes and two writers, Michael del Castillo and Jason Brett, harmed Binance by publishing a story that “contains numerous false, misleading and defamatory statements.”
In the suit, Binance denies a laundry list of allegations in the Forbes story and even refuted the veracity of the “Tai Chi” documents at its core. In the document, Binance demands that Forbes take down the article and pay punitive damages to be determined at trial.
The suit is the latest escalation of long-simmering tensions between Binance and the news media. Binance is one of the largest cryptocurrency exchanges in the world and also one of the most closely scrutinized. Central questions swirl around it and its founder Changpeng Zhao, better known to the industry as CZ.
“We exercise and support freedom, including freedom of information and freedom of the press, as well as accountability,” a Binance spokesperson told CoinDesk, adding:
Forbes and Michael del Castillo did not immediately respond to separate requests for comment.
Read the complaint:
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.