Binance CZ Files Defamation Lawsuit Against Bloomberg: What You Need to Know

The CEO of Binance is not happy with Bloomberg. Changpeng "CZ" Zhao, the Binance CEO, Changpeng Zhao, aka CZ, is suing Bloomberg Businessweek for defamation in the Hong Kong High court. The largest global crypto exchange CEO filed a lawsuit citing the report that he was defamed. Changpeng Zhao filed a lawsuit against Bloomberg Businessweek’s Hong Kong publisher, Modern Media CL.

Why is CZ Suing Bloomberg?

Binance CEO Changpeng Zhao has filed a lawsuit against Bloomberg’s Modern Media Company for publishing a cover story titled “Changpeng Zhao’s Ponzi Scheme.” Alleging he was defamed, the CEO of one of the world’s largest crypto exchanges has reportedly filed a lawsuit against the Hong Kong-based publisher of a Chinese Bloomberg Businessweek’s Chinese edition. The lawsuit is particularly focused on the 250th issue of Bloomberg.

Key Points of the Defamation Lawsuit

CZ reportedly filed the defamation lawsuit on Monday at the Hong Kong High Court. It claims that a published article made multiple false accusations against him and Binance. Binance CEO accused of running a Ponzi scheme.

Bloomberg\'s Response

Bloomberg retracted a July 2025 headline falsely accusing CZ of running a Ponzi Scheme, and Bloomberg Businessweek’s Chinese edition issued an apology to Binance and founder CZ for false accusations.

Changpeng "CZ" Zhao is suing Bloomberg Businessweek\'s Hong Kong publisher Modern Media, as well as its affiliated entities for defamation, seeking legal redress for the alleged damages caused by the publication.