Binance Sues Forbes For Defamation

NEW YORK, Nov. 19, 2020 /PRNewswire/ -- Binance, one of the world's largest digital asset exchanges, has filed a defamation lawsuit against Forbes Media LLC and related defendants in the U.S. District Court in New Jersey.

According to the Complaint:

Forbes published numerous false statements about Binance, claiming that it created a corporate structure designed to "intentionally deceive regulators," and engages in activity "characteristic of money laundering." All such statements are false and highly defamatory.

The Forbes report is based on a document which Forbes claims shows Binance's corporate structure. The document is nothing of the sort. Rather, it is a slideshow proposal prepared by a third party—not by Binance or anyone on its behalf. The proposal was never implemented. Moreover, Forbes' description of the document is a gross misrepresentation of what the document actually says.

Binance's attorney, Charles J. Harder, states: "Forbes' misleading story has done great harm to Binance's reputation. Binance demanded Forbes' retraction or correction, but it has refused. This lawsuit therefore became necessary. Binance intends to see this lawsuit through to the end, to ensure the truth and protect its reputation."

A copy of the Complaint can be found at www.HarderLLP.com/Binance

Binance is represented by media litigation attorney Charles J. Harder of HARDER LLP in New York, New York.