[ad_1]
Binance filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Tai Chi document leak reveals Binance’s elaborate scheme to evade Bitcoin regulators was defamatory. Binance is seeking both compensatory and punitive damages.
The article, which appeared on the Forbes website on October 29, 2020, reported that the “Tai Chi” document contained details of a system designed to “intentionally cheat regulators” in the United States. According to Forbes, the document described a plan to funnel income from a U.S. entity to Binance while isolating the company from U.S. law enforcement.
In the complaint filed on November 18, 2020 with the United States District Court in New Jersey, Binance states that “the story contains many false, misleading and defamatory statements about Binance.” The complaint continues to state that the company did not create the Tai Chi document and never implemented the program described in it. Binance also claims that Harry Zhou, who allegedly authored the document, never worked for the company.
Binance’s complaint notes that the company sent the defendants a letter requesting a withdrawal, retraction, and apology. The article remains in place and an editor’s note in the text states that “Compliance Officer Lim previously emailed Forbes confirming that Zhou was a Binance employee.” In its complaint, Binance includes this claim in a list of “ false, misleading and defamatory statements. ”
The barrier to successful defamation suits against journalists and media organizations is high. Plaintiffs are generally required to prove that the defendant acted with “reckless disregard for the truth” or with genuine spite (knowing that the statements made were false). Another element of a successful libel lawsuit is often “ material damage, ” and Binance alleges in the complaint that it suffered material damage “estimated at millions of dollars” as a result of the publication of the article, which he hopes to prove at trial.
Binance CEO Changpeng Zhao had previously threatened to prosecute The Block, a cryptocurrency news media.
Cointelegraph reached out to Binance, Forbes Media and Michael del Castillo for their comments.
[ad_2]
Source link