CZ Files a Defamation Lawsuit Against Bloomberg

The defamation lawsuit filed by CZ highlights Bloomberg Businessweek’s 250th issue about CZ. The cover of the issue was misleading and was titled “Changpeng Zhao’s Ponzi Scheme.” The lawsuit also cites the 250th issue along with social media posts on Facebook and Twitter. CZ, who is one of the prominent personalities in the industry, highlighted in the lawsuit that Modern Media is an influential and large medium and that the defaming news is spreading hate and harming CZ’s image. The lawsuit asks Modern Media to take down the defamatory report and issue a formal apology to CZ. Additionally, further compensation has been demanded for the damage caused.