Binance vs The Block – CZ Set to Teach The Block a Lesson For Their FUD-Creating Article

Binance-CZ-sues

Binance vs The Block – CZ Set to Teach The Block a Lesson For Their FUD-Creating Article

On November 21, The Block published an article wherein it said that Binance’s Shanghai office had been raided by the police and shut down. The article did not include the source of the information, or any conclusive proof that the event had happened. Binance responded by saying that they had “no fixed office in Shanghai”. The crypto market crashed following the news and the top coins tumbled down in double digits. Now, Binance CEO Changpeng Zhao is looking at teaching The Block a lesson for their FUD-creating article.

Apology Not Accepted Because There Was None

Apparently, CZ was expecting The Block to apologize for their FUD-creating article. However, The Block did not apologize, but simply said that it was going to stand by its sources and its report of the Binance Shanghai office having shut down. However, in the statement, it missed mentioning anything about the police raid.

Also, the Block published another detailed article in which it shared information about the addresses of Binance’s Shanghai offices, thereby refuting CZ’s claims of  “no office”. It also revealed information about how it had verified that one of the offices was operational until very recently.

But, as far as the police raid is concerned, it could not prove that it had actually happened. All it managed to say was –

 Following our initial reporting, another source corroborated that officials had visited one of the offices prior to the shutdown.

Thus, the The Block could not prove conclusively that a police raid had actually happened. It also updated its previous story and headline “to reflect the ambiguity”. The new headline reads –

Binance’s Shanghai office shut down following visit by authorities, sources say

Misha Lederman, a crypto consultant also shared that Frank Chaparro, the News Director at The Block will address their usage of the language ‘police raid'” in Binance Shanghai office story. 

Also, Mike Dudas, the CEO of Block Crypto responded on CZ’s tweet that The Block stands behind its reporting.

mike dudas
Source: Twitter

However, Binance received no apology from The Block for the FUD their article had article.

Now, CZ is planning to teach The Block a lesson. He will be suing The Block.

Binance
Source: Twitter 

The story has already outraged among the crypto community and people have lashed out against The Block. The news platform’s reputation has suffered because of the public reaction, and the lawsuit, if it happens, will only add worsen things for The Block. It remains to be be seen if Binance already has or will file a lawsuit against The Block and on what grounds, and how The Block reacts to it.

Summary
Binance vs The Block - CZ Set to Teach The Block a Lesson For Their FUD-Creating Article
Article Name
Binance vs The Block - CZ Set to Teach The Block a Lesson For Their FUD-Creating Article
Description
On November 21, The Block published an article wherein it said that Binance's Shanghai office had been raided by the police and shut down. The article did not include the source of the information, or any conclusive proof that the event had happened. Binance responded by saying that they had "no fixed office in Shanghai". The crypto market crashed following the news and the top coins tumbled down in double digits. Now, Binance CEO Changpeng Zhao is looking at teaching The Block a lesson for their FUD-creating article. 
Author
Publisher Name
CoinGape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Vinnie Singh
All things Blockchain & Crypto. 3 years for writing for Crypto Publications, ICOs and Blockchain cos. Book Junkie. Travel Freak. Food rules my mood. Enough said. Follow me on twitter @vinniesingh7 or mail me at vinnie[at]squadx.io
Post your comment...
Vinnie Singh 72 Articles
All things Blockchain & Crypto. 3 years for writing for Crypto Publications, ICOs and Blockchain cos. Book Junkie. Travel Freak. Food rules my mood. Enough said. Follow me on twitter @vinniesingh7 or mail me at vinnie[at]squadx.io
Follow Vinnie @