Binance CEO is suing Bloomberg for calling his platform a "Ponzi Scheme"
The crypto world faces more than its fair share of the "FUD" reports.
But it seems Changpeng Zhao has had enough and is all fixed to strike back. In 2020, Forbes Media was in trouble; now, Bloomberg.
Zhao, the CEO of Binance, on Monday sued Bloomberg Businessweek's Hong Kong publisher Modern Media CL alleging "publish false and unfounded criminal charges against him"
The suit is based on Bloomberg Businessweek's June 23 article on Zhao: "Can Crypto's Richest Man Stand the Cold?" But the Chinese edition took a whole different approach, with the title, "Zhao Changpeng's Ponzi Scheme."
Zhao also sues the publication for using the same phrase again on Facebook and Twitter posts.
On June 25, CZ stated in a tweet, "While most journalists at Bloomberg are good, but this time, it was bad."
"Be accountable for your actions." He said.
Zhao confirms that the filing is a personal lawsuit and has nothing to do with the exchange.
That's not all. In the United States, a motion for discovery was also filed against Bloomberg for the defamation statements in the original article.
Zhao demanded the edition's removal from newsstands and that a restraining order be issued to stop the defendants from disseminating the portrayal any further. Fair enough.
Before the lawsuit was filed, however, Bloomberg somewhat allayed Zhao's concerns by changing the title to "The Mysterious Changpeng Zhao."
Furthermore, the offensive social media posts were taken down, and physical copies of the translated article were recalled in Hong Kong.
Was it irresponsible reporting on the publisher's part, or was it just lost in translation? Well, we don't want to get into trouble over-analyzing that part.
Chipotle's "Buy the Dip" game is giving away more than $200,000 in crypto
Chipotle is giving away over $200,000 in cryptocurrencies and $2 million worth of guacamole and queso blanco dip. Yes lol, those are the dips that you generally have with tacos and burritos.
What's the plan? They launched an online game, "Buy the Dip," open until July 31—National Avocado Day. Players can follow the ups and downs of various cryptocurrencies. When they believe the market has reached its bottom, they need to click "BUY THE DIP." Every day, each player will have three chances to win a gift.
"We want to build the next generation of Chipotle fandom by connecting with the Web3 community," Chris Brandt, Chipotle's chief marketing officer, said in a statement. "We're excited to bring positivity to the crypto conversation."
Biggie Smalls' Estate enters crypto with music license nfts.
OneOf, a non-fungible token (NFT) exchange, has collaborated with the estate of Biggie Smalls for the first time to put the late rapper on the blockchain.
They are coming up with a generative profile picture (PFP) collection called "Sky's the Limit" which gives its owners the chance to vote on whether or not to distribute a previously unlicensed Notorious B.I.G. (Christopher Wallace) freestyle.
Musicians are permitted to sample the freestyle in their music with the approval and oversight of the community. The Brook Metaverse is another estate project that will soon be made accessible to holders of NFTs.
Family members of Late legends' have been among the first to experiment with the new technology. Recently, As part of a bigger initiative to develop a Web3 "vault" of the artist's intellectual property, the Elvis Presley estate made its maiden venture into the metaverse in collaboration with Decentraland.