Binance Sues Forbes for Defamation Over "Tai Chi" Report

Binance Sues Forbes for Defamation Over "Tai Chi" Report

By Abhimanyu Krishnan | News | 19 Nov 2020


Binance is suing Forbes and two of its writers for defamation, according to court documents filed on Nov. 18, following a report that alleged the exchange had used a “Tai Chi” company to skirt US regulation. 

  • Binance is suing Forbes, and reporters Michael Del Castilo and Jason Brett for defamation, stating that the article was full of inaccuracies, and misleading and defamatory statements
  • In the report, Forbes claimed that it had gained access to a leaked document that was supposedly “created by a senior executive” at Binance; the report alleged that the document contained a strategy to “distract” US regulators with a Tai Chi company
  • Exchange officials flatly denied the article’s claims soon after it was published, also saying that the senior executive in question was never an employee; CEO Changpeng Zhao was quick to dismiss it, and Binance.US CEO Caitlin Long also offered a response
  • Binance said that the absence of a retraction and apology from Forbes had sparked the decision to file a lawsuit 
  • The exchange has also enlisted the aid of attorney Charles Harder, who has previously worked on high-profile cases, including on Hulk Hogan’s defamation case against Gawker Media
  • Forbes, speaking to Decrypt, said it stands by its reporting

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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