Bloomberg Chinese apologizes: The title of the previous article was 'false and baseless' accusations against CZ and Binance

On July 17, the Chinese version of Bloomberg Businessweek issued a statement on its official website, asking CZ and its affiliates for the cover title "CZ's Ponzi Scheme" that was mistakenly published in the 250th issue of the magazine (July 6, 2022). The founding institution Binance apologized. Bloomberg Businessweek Chinese version said in a statement that the cover headline was a false and baseless allegation that had caused harm and distress to CZ and Binance. In response, the Chinese version of Bloomberg Businessweek unreservedly withdrew the content and apologized, promising not to publish or make any same or similar accusations in any way in the future.

As agreed by both parties, Bloomberg Businessweek Chinese Edition will donate a sum of money in lieu of damages to the Special Education School Foundation.

Binance responded: “We are pleased to see that the false accusations can be withdrawn. We will continue to focus on providing the best service and innovation to our users, while also continuing to set an example to ensure the health and safety of the industry. Continued development. ”

In addition, Binance has also achieved stage wins in other events. On June 29, in a U.S. federal court ruling, a judge rejected several key claims of the U.S. Securities and Exchange Commission (SEC), ruling that the SEC failed to charge that the cryptocurrency exchange was selling BNB tokens on the secondary market. Facts related to securities transactions. The court also rejected the SEC’s argument that Binance’s fiat-backed stablecoin BUSD was an investment contract.

This ruling is not just a legal victory for Binance, it also recognizes significant limitations on the SEC’s regulatory authority over the cryptocurrency industry. The court appropriately criticized the SEC’s decision to litigate a multibillion-dollar industry through a “case-by-case, coin-by-dollar, and court-by-court approach” that creates inconsistent and ambiguous outcomes.

Prior to this, following Binance’s settlement with US regulators at the end of 2023, on April 30, Binance founder and former CEO CZ formally accepted the verdict in the Seattle federal court in the United States and was sentenced to 4 months in prison. The sentence outcome was better than market expectations and related historical issues were resolved, further solidifying Binance’s leadership position in the global crypto market.

In early June, Binance announced that its global users had exceeded 200 million. Binance CEO Richard Teng posted on social media: "The number of registered users on the Binance platform worldwide has exceeded 200 million, and this number is still growing. This achievement is a blessing to the crypto community. and industry players’ continued trust in the Binance ecosystem. Binance will value this trust – as a user-centric platform, Binance is always committed to prioritizing the needs of its growing user base.”

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