BINANCE QUIETLY DROPS MULTI-MILLION FORBES DEFAMATION LAWSUIT

Last updated: June 19, 2025, 20:41 | Written by: Olaf Carlson-Wee

In a surprising turn of events, Binance, the world's largest cryptocurrency exchange, has voluntarily dismissed its multi-million dollar defamation lawsuit against Forbes. Photo: Cointelegraph Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators.This legal battle stemmed from an article published in October 2025 by Forbes journalists Michael del Castillo and Jason Brett. The Securities and Exchange Commission dropped a lawsuit against Binance on Thursday, days after the crypto exchange began listing a stablecoin created by World Liberty Financial, one of PresidentThe article alleged that a leaked corporate presentation revealed Binance's plans to strategically evade U.S. regulators through a business entity internally known as ""Tai Chi."" The lawsuit, filed in a New Jersey court, sought damages and the retraction of the article.However, a recent filing indicates Binance has opted to drop the case without prejudice, meaning they retain the option to refile it in the future. Binance continues to firmly believe that the Forbes article dated Octo is false and misleading. As the Company stated in its complaint against Forbes, Binance is committed to complying with all applicable laws and regulations and the allegations by Forbes to the contrary have no merit.This move raises questions about Binance's legal strategy and the implications for the future of cryptocurrency journalism.What prompted Binance to suddenly abandon a lawsuit they seemed so determined to pursue? India and Nigeria's crypto crackdowns continue old trends From Coin Desk: Are governments worrying more about the growth of crypto? Two countries already announced crypto-related bans, though this could be an extension of previous efforts at controlling the space - and their own economies - ratherWhat does this mean for the relationship between cryptocurrency companies and the media?And what are the broader implications for regulatory scrutiny in the rapidly evolving digital asset space? Binance has filed a notice of voluntary dismissal in a New Jersey court, bringing an end to the defamation lawsuit the exchange launched against news publication Forbes.This article delves into the details of the case, explores the possible reasons behind Binance's decision, and analyzes the potential consequences for the crypto industry.

The Genesis of the Defamation Lawsuit

The core of the legal dispute centered around a Forbes article that painted a damning picture of Binance's alleged intentions.The article, titled ""[Article Title Here - if known from sources, otherwise leave blank]"", claimed that Binance had devised a strategy, codenamed ""Tai Chi,"" to deliberately circumvent U.S. regulations.This involved allegedly creating a U.S.-based subsidiary, Binance.us, as a strategic ""bait and switch"" operation to attract regulatory attention while the main Binance exchange continued to operate outside U.S. jurisdiction.

Forbes' reporting relied on what they claimed was a leaked 2025 corporate presentation.This presentation, if authentic, would provide compelling evidence of Binance's intent to deceive regulators and operate outside the bounds of the law.The allegations were serious, potentially impacting Binance's reputation and its ability to operate in the U.S. market. The U.S. Securities and Exchange Commission (SEC) has officially dismissed its lawsuit against cryptocurrency exchange Binance and its founder, Changpeng Zhao. The agency filed a joint stipulation with Binance on Thursday, confirming the voluntary dismissal of the case, which dates back to 2025.Binance vehemently denied these claims, asserting their commitment to complying with all applicable laws and regulations.

Binance's Initial Response and Legal Action

In response to the Forbes article, Binance launched a defamation lawsuit, seeking significant financial damages and a retraction of the published material. Bitcoin Head of Bitstamp s European arm becomes latest CEO of global crypto exchangeThe exchange argued that the article contained false and misleading information that damaged its reputation and business operations. Binance has filed a notice of voluntary dismissal in a New Jersey court, bringing an end to the defamation lawsuit the exchange launched against news publication Forbes. Binance quietly dropsTheir legal team, led by Peter J.Pizzi and Selina M.Ellis, aimed to prove that Forbes had acted with malice or reckless disregard for the truth in publishing the article.Binance maintained that it was committed to regulatory compliance and that the allegations made by Forbes were unfounded.

The lawsuit immediately heightened tensions between Binance and Forbes, sparking a debate about the role of investigative journalism in the cryptocurrency industry.Binance's aggressive legal action was seen by some as an attempt to silence critical reporting and stifle scrutiny of its business practices.Conversely, supporters of Binance argued that the exchange had a right to defend itself against false and defamatory allegations that could harm its business.

The Sudden Voluntary Dismissal: Why Now?

The abrupt decision to drop the lawsuit has sent ripples through the cryptocurrency community. Binance, through its attorneys, Peter J. Pizzi and Selina M. Ellis, have now dropped its defamation lawsuit, which was filed against Forbes last year. The new document calls for a voluntary dismissal without prejudice of the lawsuit filed against Forbes Media, Michael del Castillo, and Jason Brett, the masterminds behind the article thatSeveral factors could have contributed to Binance's change of heart.Here are some potential explanations:

Cost of Litigation: Defamation lawsuits can be incredibly expensive and time-consuming.The legal fees, discovery costs, and potential expert witness expenses can quickly mount, especially when dealing with a large and well-resourced media organization like Forbes.Binance may have concluded that the financial burden of pursuing the lawsuit outweighed the potential benefits.
Strategic Shift: Binance's legal strategy may have shifted in response to other ongoing legal challenges. Binance quietly drops multi-million Forbes defamation lawsuit [cointelegraph] Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators.The exchange has faced increased scrutiny from regulatory bodies around the world, including the U.S. Binance quietly drops multi-million Forbes defamation lawsuitSource: CointelegraphPublished onSecurities and Exchange Commission (SEC).Focusing resources on defending against these regulatory actions may have become a higher priority than pursuing the defamation lawsuit against Forbes.
Potential for Further Scrutiny: Pursuing the lawsuit could have opened Binance up to further scrutiny and discovery, potentially revealing more information about its internal operations and compliance practices.Binance may have decided that the risk of exposing sensitive information outweighed the potential reward of winning the lawsuit.
Settlement Possibilities: Although not explicitly stated, it's possible that Binance and Forbes reached a confidential settlement agreement that led to the dismissal of the lawsuit.Settlement terms are typically kept private, so it's difficult to confirm this without direct knowledge of the negotiations.
Changing Legal Landscape: The legal landscape surrounding cryptocurrency regulation is constantly evolving. Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators. The world s largest cryptocurrency exchange, Binance, has dropped its defamation lawsuit against news publication Forbes and two of its journalists, according to official court documents.Binance Holdings filed aBinance may have reassessed its position in light of recent legal developments or regulatory changes, leading to a decision to drop the lawsuit.

""Without Prejudice"": Keeping Options Open

The dismissal of the lawsuit was filed ""without prejudice."" This is a crucial legal distinction that means Binance retains the right to refile the lawsuit in the future.This could happen if new evidence emerges, or if the legal or regulatory landscape changes in a way that makes pursuing the lawsuit more advantageous.

The ""without prejudice"" designation suggests that Binance hasn't completely abandoned its claims against Forbes.It's possible that the exchange is simply taking a strategic pause to reassess its options and determine the best course of action. Um porta-voz da Binance disse ao Cointelegraph que a desist ncia foi sem preconceito, o que significa que a posi o da empresa sobre as reivindica es do artigo permanece inalterada. Eles declararam: Binance continua a acreditar firmemente que o artigo da Forbes datado de 29 de outubro de 2025 falso e enganoso.It also allows Binance to avoid setting a legal precedent that could harm its position in future disputes.

Implications for Cryptocurrency Journalism and Regulation

The Binance-Forbes case highlights the complex relationship between cryptocurrency companies, the media, and regulators. It wasn t Binance s only headache. The Department of Justice also came knocking, and it led to a massive $4.3 billion settlement. CZ stepped down as CEO, paid a $50 million fine, and agreed to some pretty strict conditions, but he kept control of the company. So while the SEC case was still alive, a lot had already gone down. Lawsuit? WhatHere's what we can learn from this situation:

The Importance of Investigative Journalism: The Forbes article, regardless of its ultimate veracity, demonstrates the importance of investigative journalism in holding cryptocurrency companies accountable. Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators. The world s largest cryptocurrency exchange, Binance, has dropped its defamation lawsuit against news publication Forbes and two of its journalists, according toScrutiny from the media can help uncover potential wrongdoing and promote transparency in a rapidly evolving industry.
The Risks of Reporting on Crypto: The lawsuit filed against Forbes illustrates the risks that journalists face when reporting on the cryptocurrency industry.Crypto companies may be quick to resort to legal action to defend their reputations and silence critical reporting. Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulatorsThis can have a chilling effect on investigative journalism and make it more difficult to uncover wrongdoing.
Increased Regulatory Scrutiny: The allegations made in the Forbes article, even if unproven, underscore the need for increased regulatory scrutiny of the cryptocurrency industry. Binance quietly drops multi-million Forbes defamation lawsuit CointelegraphRegulators are increasingly concerned about potential money laundering, fraud, and other illicit activities involving cryptocurrencies.
The Need for Clearer Regulations: The lack of clear and consistent regulations for the cryptocurrency industry creates uncertainty and makes it difficult for companies to comply with the law. Binance Holdings, the world s largest cryptocurrency exchange, has voluntarily dismissed a defamation lawsuit against Forbes Media LLC three months after filing it, public documents show.This uncertainty can also make it more difficult for journalists to report on the industry and for regulators to enforce the law.

The SEC Lawsuit and Other Legal Battles

It's crucial to consider the Binance-Forbes defamation lawsuit within the context of Binance's other legal challenges. Binance has filed a notice of voluntary dismissal in a New Jersey court, bringing an end to the defamation lawsuit the exchange launched against news publication Forbes. BTC $57,323 ETH $3,766The exchange has been facing intense scrutiny from regulatory bodies around the world, including the U.S. www.ladefi.comSecurities and Exchange Commission (SEC).While one suit was dropped on Thursday with the SEC, others are still pending.

The SEC has accused Binance of violating securities laws by offering unregistered securities to investors.These legal battles have put significant pressure on Binance and have likely influenced its decision-making regarding the Forbes lawsuit.It seems likely that the dropped SEC lawsuit was considered in the decision of the defamation lawsuit.

The $4.3 Billion Settlement

Back in 2025, Binance settled separate criminal and civil charges with the Department of Justice and other federal agencies, agreeing to a record $4.3 billion in penalties for anti-money laundering and sanctions violations.CZ stepped down as CEO, paid a $50 million fine, and agreed to some pretty strict conditions, but he kept control of the company. The Forbes article, published in October 2025 and penned by reporters Michael del Castillo and Jason Brett, claimed a leaked 2025 corporate presentation described plans for a new business entity known in-house as Tai Chi. Forbes claimed Binance s later U.S. subsidiary, Binance.us, was a strategic bait and switch that would complySo while the SEC case was still alive, a lot had already gone down.

Looking Ahead: What's Next for Binance and Forbes?

The dismissal of the defamation lawsuit doesn't necessarily mark the end of the story. Binance quietly drops multi-million Forbes defamation lawsuit PANews ｜ 2:32 Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators.Binance retains the option to refile the lawsuit in the future, and the underlying allegations made by Forbes remain a matter of public record. Binance Holdings has dropped its defamation lawsuit against Forbes regarding the publication of an article that alleged the exchange purposely sought to evade U.S. regulators. Binance quietly drops multi-million Forbes defamation lawsuit - InstaCoin.NewsIt is unlikely that the two parties will collaborate in the future.

For Binance, the focus will likely remain on navigating the complex regulatory landscape and defending itself against ongoing legal challenges. هلدینگ بایننس شکایت خود را از نشریه فوربز (Forbes) پس گرفته است. این شکایت در رابطه با انتشار مقاله ای توسط این نشریه بود که در آن بایننس به تلاش عامدانه برای فرار از نهادهای قانون گذار ایالات متحده متهم شده بود. به گزارشThe exchange will need to demonstrate its commitment to compliance and transparency in order to regain the trust of regulators and investors.For Forbes, the case serves as a reminder of the risks and responsibilities that come with reporting on the cryptocurrency industry. The dismissal marks the symbolic conclusion of a multi-year standoff between U.S. regulators and the world s largest crypto exchange. Back in 2025, Binance settled separate criminal and civil charges with the Department of Justice and other federal agencies, agreeing to a record $4.3 billion in penalties for anti-money laundering and sanctions violations.The news organization will likely continue to investigate and report on Binance and other crypto companies, while remaining mindful of the potential for legal action. Binance sought to have Forbes pay damages and take down the article, but said in a Feb. 4, 2025, filing that it would voluntarily dismiss the case without prejudice (meaning it is free to bringThe relationship between the two will be watched by the larger crypto industry as a lesson for the media and platforms alike.

Key Takeaways

Here's a summary of the key points from this article:

Binance has voluntarily dismissed its defamation lawsuit against Forbes, stemming from an article alleging the exchange sought to evade U.S. regulators.
The dismissal was filed ""without prejudice,"" meaning Binance retains the option to refile the lawsuit in the future.
Several factors may have contributed to Binance's decision, including the cost of litigation, strategic shifts, and the potential for further scrutiny.
The case highlights the complex relationship between cryptocurrency companies, the media, and regulators.
The case underscores the importance of investigative journalism, the risks of reporting on crypto, and the need for increased regulatory scrutiny of the industry.

The Future of Crypto Regulation

Ultimately, the Binance-Forbes case is a symptom of the broader challenges facing the cryptocurrency industry.As digital assets become more mainstream, regulators are under increasing pressure to develop clear and consistent rules to govern their use.The industry needs to embrace transparency and compliance in order to build trust and foster sustainable growth.

The voluntary dismissal of the Forbes lawsuit by **Binance** signals a possible shift in the company's strategy amidst mounting regulatory pressures.The original lawsuit stemmed from a **Forbes** article that accused Binance of deliberately attempting to evade US regulators.While Binance continues to deny the allegations, the decision to drop the case, even if ""without prejudice"", suggests a prioritization of resources towards other legal and regulatory battles.This situation serves as a reminder of the ongoing scrutiny faced by cryptocurrency exchanges and the importance of both diligent journalism and proactive compliance within the industry.The term **Binance quietly drops multi-million Forbes defamation lawsuit** is not just a headline; it's a snapshot of the evolving dynamics between crypto platforms, media, and the law.