The case in question dates back to 2022, when former Binance CEO Changpeng Zhao filed a lawsuit in the Hong Kong High Court against Chinese publication Modern Media, a subsidiary of Bloomberg BusinessWeek, which he said published false statements.
Let us recall that in 2022, the Modern Media publication published a review article in which it suspected the cryptocurrency platform and its former manager of fraud and organizing a Ponzi scheme.
“In our 250th issue on July 6, 2022, we made a blatant mistake by publishing an article about the activities of the Binance exchange and its CEO under the false and baseless title “Changpeng Zhao Scam”. We were wrong and unreservedly apologize for the financial and moral harm caused,” Modern Media said in an official statement.
The publication added that as compensation, the media platform will make voluntary donations to the Hubei Songji Special Education Foundation. The amount of future donations is not disclosed.
Earlier, the head of the payments policy and regulation department of the Central Bank of Nigeria (CBN), Olubukola Akinwunmi, said that the largest crypto exchange Binance misled Nigerian citizens and provided banking services to Nigerians without the regulator’s permission.
Source: Bits
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