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Binance’s Changpeng Zhao Sues Bloomberg Publisher, Reports Note

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It’s been reported that the Binance CEO Changpeng Zhao just sued Bloomberg publisher for defamation. Take a look at what happened according to the online publication the Daily Hodl.

CZ sues Bloomberg

Binance CEO Changpeng Zhao is reportedly suing the Hong Kong publisher of business publication Bloomberg Businessweek for defamation.

The Hong Kong Economic Times says Zhao is suing Modern Media over a translated article published weeks ago that portrayed the Binance CEO as running a “Ponzi scheme.”

The report noted that in the lawsuit filed at the Hong Kong Court of First Instance, Zhao claims that the Chinese version of the article hurt his image besides causing him distress and embarrassment.

“The plaintiff pointed out that Modern Media is an important and influential local media, but the statement is defamatory, causing it to be hated, despised and ridiculed, and harming the plaintiff’s image in the general public, especially in the cryptocurrency and business circles, It caused him considerable distress and embarrassment.”

It’s also important to note the fact that last month, the Binance CEO branded the “Can Crypto’s Richest Man Stand the Cold?” piece “bad” and “unprofessional” over how he was portrayed.

“The comments here say it all. While most journalists at Bloomberg are good, but this time, it was bad.”

CZ also said this:

“Bloomberg: hey, we will do a nice profile piece on you, invite you for photoshoots, etc. Then switches the story last minute. Ignore all positive comments they got from 3rd parties. Picked only old negatives. And still puts you on the cover… Unprofessional.”

Check out the original article in order to learn more details. 

Current state of the crypto market

The crypto market is struggling to recover following a lot of corrections.

The worst of the Bitcoin (BTC) capitulation could be over, according to the crypto analytics firm Glassnode.

In a new analysis, Glassnode examines the Market Realized Gradient Oscillator (MGRO) 14-day, 28-day, and 140-day time periods, with the latter period indicating Bitcoin has already been in a bear market for many months, according to the analytics firm as per the online publication the Daily Hodl.

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