Binance Sues Forbes and Two Crypto Journalists


November 19, 2020 12:51 pm

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A new lawsuit has been filed in the state of New Jersey by Binance against Forbes Media and two of its journalists Michael del Castillo and Jason Brett, claiming that an article published under the title “Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators” was abusive. Binance is demanding compensatory as well as punitive damages.

The article which was published on the Forbes website on October, 29, reported that the “Tai Chi” document included details of a scheme designed to “intentionally deceive regulators” in the United States. The document described a plan to funnel revenue from a U.S. entity back to Binance while insulating the company from U.S. enforcement.

In its complaint to the United States District Court of New Jersey, Binance mentions that “The Story contains numerous false, misleading and defamatory statements about Binance.” The complaint continues to declare that the company did not create the Tai Chi document and has never implemented the scheme described within it. Binance also declares that Harry Zhou, reportedly the author of the document, never worked for the company.

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