Key notes
- The founder of Binance CZ suggested the possibility of pursuing legal actions against Bloomberg.
- The Maison des Média would have defamed the exchange by publishing a “successful song”. CZ was accused of having links with the WLFI in the middle of a broader media debacle.
Changpeng Zhao, the founder of the main cryptocurrency exchange binance, is angry with Bloomberg. He envisages legal actions. This concerns a media press article which would have included a factual error, which would be sponsored by a competitor, although no specific name has been mentioned.
Media control model for binance
CZ, as it is popularly called, threatened to prosecute Bloomberg for defamation after the company has published what it described as a “successful piece” riddled with factual errors.
By taking to X, the patron of the crypto expressed his dissatisfaction. He deduced that this is not the first time that Bloomberg has communicated such an error. This decision has rekindled debates on media responsibility and its impact on the cryptocurrency industry.
In 2022, Zhao charged a Bloomberg staff member for the publication of declarations he described as defamatory. Precisely, he dragged the publisher of Hong Kong from Bloomberg Businessweek, Modern Media Cl, at the court for having published a profile of the chief of the crypto entitled “Can the richest man of crypto be the cold?” At the time, CZ was still the CEO of the best digital asset service provider.
The Chinese edition of the publication labeled Binance as operating a “Ponzi program”.
After a two -year legal saga, Bloomberg retracted the declaration, changed the title of the article to “the mysterious Changpeng Zhao”. In addition, he apologized and even made a charity donation instead of paying damages.
Zhao’s latest threat to prosecute the press office suggests that he thinks that the new article is following a similar model of irresponsible journalism.
4. Fud. Bloomberg has just written another successful play (sponsored by a competitor) containing so many factual errors that I don’t even know where to start.
Could have to continue them again for defamation.
– CZ 🔶 BNB (@cz_binance) July 11, 2025
In the meantime, he has not confirmed if the cryptographic company will go forward to continue Bloomberg. He also not highlighted the exact nature of the errors. It should be noted that this event coincides with the recent media examination of Changpeng Zhao’s activities.
A few months ago, reports binding him to World Liberty Financial (WLFI) went around.
WLFI is a cryptographic company linked to the American president Donald Trump. Updates making the round allegations that have affirmations that CZ pleaded with Trump to give him forgiveness in his legal challenges with the American authorities.
Wazirx meticulous examination in India
Another problem that Binance has been faced in recent times had to do with the Indian authorities and Wazirx.
Last month, India’s financial intelligence unit (FIU) collected data from the main exchange of crypto in order to follow crypto transfers in private wallets which can be linked to Pakistan.
Said wallets have raised alarms that certain transactions could finance illegal or terrorism activities in India, especially in Jammu-et-Cachemire.
Around the same time, the Indian authorities observed an increase in cryptographic activity on Wazirx along the border. This has intensified fears of digital assets used as a channel for financing terrorism. In the current state of things, Wazirx has an audience of the high court of Singapore on July 15, which could determine if the users legally have their crypto on the platform.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
