Binance Filed for Defamation Against Forbes

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Cryptocurrency exchange Binance has filed a libel suit against Forbes Media LLC for a document allegedly revealing the legal avoidance tactics used. Binance wants the article still available on Forbes’ site to be removed and the compensation to be determined.

Binance Holdings Limited went to the US District Court of New Jersey and sued Forbes and two related journalists, Michael del Castillo and Jason Brett. Binance claims that the company suffered from the “many false, misleading and defamatory statements” published on Forbes.

Binance denied a number of allegations based on “Tai Chi” documents, and even the authenticity of the document in its lawsuit. He refuted the allegations in the Forbes article with counter-evidence he presented. Binance is seeking the removal of the article and the payment of damages to be determined at the hearing in the Forbes case. In addition, the company sent a letter to the defendants requesting an apology for the misleading letter.

Details of the articles ending with the case

Michael del Castillo wrote an article containing documents called ‘Tai Chi’ allegedly leaked in 2018. Then Jason Brett published additional news on the subject. The main framework of both these articles was how Binance managed to evade US controls. The so-called strategies, according to the Forbes authors, were revealed by Tai Chi documents.

Tai Chi documentation, according to Forbes’ story, is a strategic plan leaked from a presentation believed to be seen only by Binance’s top executives. According to Forbes, the document was created by Harry Zhoe, a former Binance employee.

Binance exchange, while describing the stories written as false and slander; He argued that these publications cost them millions of dollars in damage. While Binance defends itself by saying that it always abides by prohibited requirements and does not break the rules; He added that they never had an employee named Harry Zhou, as claimed by Forbes.

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