Binance CEO Reportedly Will Sue The Block Crypto Media Publication Over False Story

Changpeng Zhao, the CEO of Binance, called out The Block on Twitter for not apologizing to the community for its “fake” headline news concerning the “non-existent” police raid, which damaged Binance’s reputation and the BTC price. He also stated that “We will be suing them.”

We will be suing them.

— CZ Binance (@cz_binance) November 23, 2019

According to a Cointelegraph report, the piece that had offended Zhao was part of several reports concerning a new crypto clampdown by China. And that The Block then issued a report titled, Binance’s Shanghai office shut down following visit by authorities, sources say.” Cointelegraph reports that the original title referenced “police raid,” which was then changed to “visit from authorities”.

Zhao wrote,

“Instead of apologizing to the community for the fake headline news of the non-existent ‘police raid’, which damaged our reputation, and $btc price, The Block now tries to argue if there was an office, if CZ had a meeting… who cares? Own up & apologize for your mistake.”

Even though Zhao demanded an apology for the publication, The Block instead released another piece in defense of its position.