Binance is the leading exchange and has the second largest as per the daily trading volume. The CEO Binance, Changpeng Zhao has said the exchange is going to sue Industry media outlet called ‘Block over’ in a respond to false reporting. In the recent Twitter notes on November 22, the Binance CEO who is called CZ in crypto circles has promised that the exchange will take the legal action over an article claiming that the Binance exchange’s Shanghai office was getting attention from the Chinese police.
The Block over should apologize
He wrote in a tweet that the exchange is going to sue them. This tweet made rounds on Friday and was the crucial part of numerous reports claimed by China. At the same time, Bitcoin (BTC) price dropped down to $7,000. The Block over outlet claimed that the Shanghai office of the Binance exchange as shut down after following the visit by authorities.
After hearing out about this article, CZ demanded the publication to apologize for their tweet but went to court action. In response to this, the Block over published a report followed by the piece of paper to defend their claim. This incident has heat up the situation and led the CEO of Binance to change his mind, which he said that it would be a more trouble for now.
He said in a tweet that instead of apologizing to the exchange for publishing fake news and talked about the non-existent of the police read, which not only damaged the reputation but also let down the value of BTC price. Now, the Block over is trying to argue if there is any office or not. The News Outlet should Own up and apologize for your mistake.
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Talks about ‘FUD fighting fund’
The Co-founder of Block , Mike Dudas also involved in the quarrel with CA after which the latter one created a dedicated fund to combat the practice of spreading elements like FUD and fear. On twitter, an interest was seen by CZ from the CEO of Blockchain platform Tron (TRZ) , Justin Sun, and talked about donating 100 BTC to the funds. This was an attempt for Dudas to attempt at stifling press freedom. The wealthiest men in the crypto world has raised a ‘FUD’ which over $1 million. For availing more information, call on Binance support number which is functional all the time.
It is still not clear that the news published by the Block has any reality or not. It would be exciting to see what both these parties have to say. When Cointelegraph asked the exchange about this exchange, they didn’t talk about this topic. Whenever you are troubled with Binance issues, you can contact the team of experts anytime for availing quality solutions that are easy to execute and accessible.