Binance Sues Forbes For Defamation Over Leaked Doc Story

Law360 (November 18, 2020, 11:02 PM EST) — Cryptocurrency exchange Binance accused Forbes and two writers of defamation in New Jersey federal court Wednesday, alleging an Oct. 29 story “grossly mischaracterized” the truth and defamed the Cayman Islands-based company by claiming it uses its corporate structure to covertly profit from U.S. cryptocurrency investors and deceive regulators.

The article, “Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme to Evade Bitcoin Regulators,” cited a 2018 leaked document as the source of various claims of illegal activities by Binance Holdings Ltd., operator of the world’s largest cryptocurrency exchange based on transaction volume.

The story claimed Binance was setting up an entity it…

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