Binance has filed a lawsuit against Forbes Media and two of the journalists, Michael Del Castillo and Jason Brett, claiming that the article, published under the headline “Leaked Tai Chi Document”, reveals Binance’s plan to avoid Bitcoin regulators. It was slander. Binance seeks compensation and punishment.
An article on the Forbes website on October 29 said that the Taiji document provided details of a plan designed to “deliberately mislead regulators” in the United States. According to Forbes, the document sets out a plan to redirect the US company’s earnings to Binance, and protects the company from US coercion.
In a complaint filed Wednesday with the U.S. District Court in New Jersey, Binance stated that “the story contains many false, misleading and defamatory statements about Binance.” The complaint goes on to claim that the company did not create the Taiji document and did not follow the plan described in it. Binance also claims that Harry Cho, the alleged author of the document, never worked for the company.
Binance’s complaint indicated that the company sent a letter to the defendants asking for suspension, waiver and apology. The article remains in place, and an editorial note to the text states that “Compliance Officer Lim previously sent an email to Forbes confirming that Zhou was a Binance employee.” In its complaint, Binance included this claim as “false, misleading and defamatory statements.”
Matt Hutchison, director of public relations for Forbes, told the Cointelegraph: “We stick to our reporting.”
Barriers to successful defamation against journalists and the media are extremely high. Complainants must usually prove that the respondent acted with “ruthless disregard for the truth” or with genuine malice (knowing that the data provided is incorrect). Another element of a successful defamation lawsuit is often “material damage”, and Binance claims in its complaint that they caused property damage “believed to be worth millions of dollars” as a result of publishing an article it hopes to prove. In the courtroom.
Earlier, CEO Changpeng Zhao threatened to take legal action against The Block, a news outlet for cryptocurrency.
Cointelegraph reached out to Binance and Michael Del Castillo for comment.