According to official court documents, Binance, the world’s largest cryptocurrency exchange, has filed a defamation suit against Forbes magazine and two of its journalists.

Binance Holdings filed a lawsuit against Forbes with journalists Michael Del Castillo and Jason Brett in November after an article in which Binance tried to divert attention from US financial regulators and get away from them.

A notice of voluntary termination was filed in the U.S. District Court in New Jersey on February 4, which ended the trial against Forbes. The deposit does not provide an explanation for the withdrawal of the claim, only that Binance “hereby announces its voluntary termination (sic), without affecting the procedure described above for Forbes Media defendants Michael Del Castillo and Jason Brett.”

Forbes’ depth of investigation was based on an alleged leaked document from a former Binance employee describing the company’s strategy to undermine US regulatory efforts while continuing to serve US customers.

The document claims that Binance plans to cooperate with various regulators “without expecting to succeed.” Other hypothetical strategies outlined in the document included proactively joining self-regulatory organizations and using virtual private networks (VPNs) to avoid regulatory oversight.

Binance Holdings is called the “Tai Chi document” because the Forbes article was originally claimed to have cost her millions of dollars in property damage, but at the time it was said: “The story contains a lot of false, misleading and defamatory information about Binance.”

A Binance spokesman told the Cointelegraph that the layoff was “objective”, meaning the company’s position on the allegations in the article has not changed. They said:

Binance is still convinced that the Forbes article dated October 29, 2020 is false and misleading. As the company stated in its complaint against Forbes, Binance is required to comply with all applicable laws and regulations, and Forbes claims the opposite has no advantage. However, in order to provide users with the best possible service, especially during this time of unprecedented growth, the company does not file lawsuits. “

Source: CoinTelegraph

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