BINANCE CEO: WE WILL BE SUING THE BLOCK OVER CHINA POLICE RAID STORY

Last updated: June 19, 2025, 20:45 | Written by: Charlie Shrem

The cryptocurrency world is no stranger to drama, but few recent events have sparked as much controversy as the unfolding saga between Binance and The Block. On Thursday, sources have informed The Block of a police raid that has led to the shutdown of Binance's office in Shanghai. The following day (Nov. 22), Bithumb, another crypto exchange from SouthChangpeng Zhao (CZ), the CEO of Binance, the world's leading cryptocurrency exchange, has publicly announced his intention to sue the industry media outlet, The Block, over a story alleging a police raid on Binance's supposed Shanghai office. Binance to sue The Block and create 'FUD fighting fund' Continue reading Binance CEO: 'We Will Be Suing' The Block Over China Police Raid StoryThe post Binance CEO: 'We Will Be Suing'This isn't just a simple disagreement; it's a high-stakes battle involving accusations of fake news, potential defamation, and the reputation of a major player in the crypto space.The article in question, published on November 21st, claimed that Binance's Shanghai office had been shut down following a police raid, a claim that CZ vehemently denies, even going so far as to question the existence of such an office.This situation has escalated rapidly on social media, with CZ promising to “make it expensive for them to FUD” (Fear, Uncertainty, and Doubt), raising questions about the future of crypto journalism and the responsibilities that come with reporting on such a volatile industry.The developments also bring to light the increasing sensitivity of crypto businesses to perceived misrepresentation and their willingness to defend their brand aggressively. The CEO of cryptocurrency exchange Binance has vowed to sue industry media outlet The Block over alleged false reporting. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ in crypto circles, promised to take legal action over an article that claimed Binance's Shanghai office was receiving attention from Chinese police.Let’s delve deeper into this developing story to understand the core issues at stake.

The Alleged ""Fake News"" and CZ's Response

The controversy stems from an article published by The Block on November 21st, titled ""Binance's Shanghai office shut down following police raid, sources say."" This article immediately ignited a firestorm in the crypto community, with some even speculating that it contributed to a dip in Bitcoin's price.CZ, known for his active presence on Twitter, wasted no time in dismissing the report as false. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ in crypto circles, promised to take legal action over an article that claimed Binance s Shanghai office was receivingHe tweeted, ""No police, no raid, no office. The CEO of cryptocurrency exchange Binance has vowed to sue industry media outlet The Block over alleged false reporting. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ inHope you didn't pay to read that FUD."" This straightforward denial set the stage for the escalating conflict.

CZ's main objections to The Block's story center around two key claims: the alleged police raid and the existence of a Binance office in Shanghai.He has consistently denied both assertions, accusing The Block of spreading false information and creating unnecessary FUD around Binance.In response to former TechCrunch founder Michael Arrington, CZ doubled down on his intention to sue, stating, ""Make it expensive for them to FUD.""

Why is CZ so Furious? O CEO da Binance prometeu processar o The Block por supostas fake news. Em uma troca de mensagens no Twitter em 22 de novembro, Changpeng Zhao, conhecido como CZ no mundo cripto, prometeu tomar uma a o legal sobre um artigo que alegava que o escrit rio de Binance em Xangai estava recebendo uma batida da pol cia chinesa .The Potential Impact of FUD

The crypto market is notoriously sensitive to news and speculation, and negative reports, especially those involving potential legal troubles or regulatory scrutiny, can have a significant impact on asset prices and investor confidence. 41 votes, 27 comments. 893K subscribers in the binance community. A place to interact with the community, and discuss all things crypto and Binance!FUD, or Fear, Uncertainty, and Doubt, is a common term used in the crypto community to describe the deliberate spreading of misinformation or negative sentiment to influence market behavior.For a company like Binance, which relies heavily on public trust and investor participation, the spread of FUD can have serious consequences.

Here are some potential impacts of negative publicity on Binance:

Loss of Investor Confidence: Negative news can erode investor confidence, leading to withdrawals and a decline in trading volume.
Reputational Damage: A damaged reputation can make it harder to attract new users and partners.
Regulatory Scrutiny: False reports can attract the attention of regulators, potentially leading to investigations and legal challenges.
Price Volatility: The price of Binance's native token, BNB, could be negatively affected by negative publicity.

Given these potential consequences, it's understandable why CZ is taking such a strong stance against The Block's reporting. The CEO of cryptocurrency exchange Binance has vowed to sue industry media outlet The Block over alleged false reporting. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ in crypto circles, promised to take legal action over an article that claimed Binance s Shanghai office was receiving attention from Chinese police.He clearly believes that the article was not only inaccurate but also harmful to Binance's reputation and business.

Defamation and Libel: The Likely Legal Grounds

While Binance hasn't explicitly stated the specific legal grounds for its lawsuit against The Block, the most likely claim is defamation, which includes both libel (written defamation) and slander (spoken defamation).To win a defamation case, Binance would need to prove several things:

The Block published a false statement of fact. This is the core of the dispute.Binance must prove that the claims of a police raid and the existence of a Shanghai office are untrue.
The statement was published to a third party. This is easily satisfied, as the article was published on The Block's website and widely shared on social media.
The statement was defamatory. Binance must show that the statement harmed its reputation or exposed it to hatred, ridicule, or contempt.
The Block acted with negligence or malice. This is a crucial element. Binance CEO: We Will Be Suing The Block Over China Police Raid Story. Binance to sue The Block and create FUD fighting fundBinance would need to prove that The Block either knew the statement was false or acted with reckless disregard for the truth.Proving malice is a higher bar to clear and would require demonstrating that The Block intentionally set out to harm Binance.

The ""negligence or malice"" requirement is particularly important for media outlets, as it protects freedom of the press.However, if Binance can demonstrate that The Block published the story with a reckless disregard for the truth, it could have a strong case.

The Block's Stance: Defending Their Reporting

As of now, The Block has not publicly retracted its story or issued an apology to Binance.The publication stands by its reporting, citing sources and previous media coverage to support its claims. Binance plans to sue The Block over its 'fake news' story on a supposed police raid on the exchange's Shanghai offices.This sets the stage for a potentially lengthy and contentious legal battle.The Block likely believes that it had sufficient grounds to publish the story based on the information it received, and it will likely argue that it acted in good faith.The publication will also argue that it has a right to report on matters of public interest, even if those reports are critical of Binance.

The ultimate outcome of the lawsuit will depend on the evidence presented by both sides and the interpretation of the law by the court.

The SEC Lawsuit and Its Relation to This Case

It's worth noting that Binance has recently resolved a separate legal challenge.The SEC (Securities and Exchange Commission) had previously filed a lawsuit against Binance and CZ, alleging violations of securities laws. The SEC has formally dropped its lawsuit against Binance and founder Changpeng Zhao, ending one of the last crypto enforcement actions by the agency.However, the SEC has now formally dropped its lawsuit, ending one of the last crypto enforcement actions by the agency. On Nov. 21, crypto industry publication The Block released a story entitled Binance's Shanghai office shut down following police raid, sources say. The article quickly blew up on Twitter, with some going as far as to suggest that it contributed to the recent collapse of the Bitcoin price, which now sits at $7,250 as of the time of writing this.[BREAK] Changpeng Zhao, the chief executive ofWhile the SEC case is separate from the dispute with The Block, the fact that Binance has successfully defended itself against regulatory action could bolster its position in the current legal battle. Specifically, CZ took The Block to task over its claims Binance encountered a police raid, and that it even had a Shanghai office at all. The latter issue remains unclear, the publication citing witnesses and previous media coverage, which CZ rejected.Winning the SEC case could be seen as a validation of Binance's operations and a demonstration of its commitment to compliance.

The Broader Implications for Crypto Journalism

The lawsuit between Binance and The Block has broader implications for the world of crypto journalism. Changpeng Zhao (CZ), the CEO of Binance, the cryptocurrency exchange, has vowed to sue The Block, the Industry Media Outlet, over alleged false reporting. On November 22, CZ promised to take legal action over an article that claimed Binance s Shanghai office was receiving attention from Chinese police.It raises important questions about the responsibilities of media outlets when reporting on the crypto industry, as well as the rights of crypto companies to defend themselves against what they perceive as false or defamatory information.This case highlights the importance of accurate and responsible reporting in the crypto space, where misinformation can spread rapidly and have a significant impact on market sentiment.

Here are some key considerations for crypto journalists:

Verification of Information: It's crucial to verify information from multiple sources before publishing a story, especially when dealing with sensitive or controversial topics.
Fair and Balanced Reporting: Journalists should strive to present all sides of the story and avoid bias.
Transparency and Disclosure: Any potential conflicts of interest should be disclosed to readers.
Responsibility for Accuracy: Media outlets should be prepared to correct any errors or inaccuracies in their reporting.

The lawsuit also serves as a reminder to crypto companies that they have the right to defend themselves against false or defamatory information.However, companies should also be mindful of the potential consequences of taking legal action against media outlets, as such actions can sometimes backfire and further damage their reputation.

Binance's ""FUD Fighting Fund""

In addition to suing The Block, CZ has also hinted at the possibility of creating a ""FUD fighting fund"" to combat the spread of misinformation about Binance and the crypto industry in general. Binance CEO, Changpend Zhao has announced that he will sue The Block Crypto over false news.This fund could be used to support legal action against media outlets that publish false or defamatory information, as well as to educate the public about the crypto industry and combat the spread of FUD.The creation of such a fund could have a significant impact on the landscape of crypto journalism, as it would give crypto companies a powerful tool to defend themselves against what they perceive as unfair or inaccurate reporting. In an escalating argument on social media, Changpeng Zhao promises legal action after The Block doubled down on its widely disputed Binance coverage Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.The details of this fund, including its size and scope, are still unclear, but the mere suggestion of its creation has already sent shockwaves through the crypto media world.

The Social Media Battlefield

The conflict between Binance and The Block has played out largely on social media, particularly on Twitter. It isn t clear what Binance will be suing The Block for, though the most likely answer is defamation and libel. Several hours later, CZ double-downed on his intention to sue The Block in a response to former TechCrunch founder Michael Arrington, tweeting, Make it expensive for them to FUD.CZ's active presence on Twitter has allowed him to directly address the allegations made by The Block and to communicate his side of the story to the public. Binance CEO Changpeng Zhao, better known as CZ in the crypto world, defended his company against The Block by tweeting, No police, no raid, no office. Hope you didn't pay to read that FUDSocial media has become an important battleground for companies seeking to control their narrative and defend their reputation.This case highlights the power of social media in shaping public opinion and influencing the course of events.

However, social media can also be a double-edged sword.While it allows companies to communicate directly with the public, it also makes them vulnerable to criticism and misinformation. p Binance to sue The Block and create FUD fighting fund /p Binance CEO: We Will Be Suing The Block Over China Police Raid Story - Sharecast.com SharecastIn the age of social media, companies need to be proactive in monitoring their online reputation and responding to false or misleading information quickly and effectively.The use of bots and coordinated campaigns to spread misinformation is a growing concern and one that companies need to be prepared to address.

The Ongoing Investigation and Potential Outcomes

The situation is still evolving, and it remains to be seen how the lawsuit between Binance and The Block will ultimately play out.Several potential outcomes are possible:

Settlement: Binance and The Block could reach a settlement agreement, in which The Block retracts its story and issues an apology, or Binance agrees to drop the lawsuit in exchange for certain concessions.
Court Ruling: A court could rule in favor of Binance, ordering The Block to pay damages and issue a retraction.
Dismissal: A court could dismiss Binance's lawsuit, finding that The Block did not act with negligence or malice.

The outcome of the lawsuit will likely depend on the evidence presented by both sides and the interpretation of the law by the court. Binance to sue The Block and create FUD fighting fund Continue reading Binance CEO: We Will Be Suing The Block Over China PoliceRegardless of the outcome, the case has already raised important questions about the responsibilities of media outlets and the rights of crypto companies.

The Shanghai Office: Myth or Reality?

A central point of contention in this dispute is the existence of a Binance office in Shanghai. In an escalating argument on social media, Changpeng Zhao promises legal action after The Block doubled down on its widely disputed Binance coverage. The CEO of cryptocurrency exchange Binance has vowed to sue industry media outlet The Block over alleged false reporting. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ MoreCZ has repeatedly denied that Binance has any such office, while The Block claims to have evidence to the contrary. Menu. Home; Bitcoin Chart; Live Prices; Cryptocurrency News; Exchanges; Cryptocurrency SoftwareThis raises the question: is there, or was there ever, a Binance office in Shanghai?The answer remains unclear, but here's what we know:

CZ's Denial: CZ has flatly denied the existence of a Binance office in Shanghai, stating that the company operates in a decentralized manner and does not have physical offices in China.
The Block's Claims: The Block claims to have sources and previous media reports indicating that Binance did have an office in Shanghai.
Potential for Ambiguity: It's possible that Binance had a presence in Shanghai through a third-party company or a co-working space, which could explain the conflicting accounts.

The truth about the Shanghai office may never be fully revealed, but it remains a key point of contention in the legal battle between Binance and The Block.

Lessons Learned: Navigating the Complexities of Crypto Reporting

This case offers valuable lessons for both crypto companies and journalists navigating the complexities of the crypto industry.For crypto companies, it highlights the importance of proactively managing their reputation and responding quickly and effectively to false or misleading information.For journalists, it underscores the need for accurate and responsible reporting, as well as a commitment to verifying information from multiple sources.

Ultimately, the goal should be to promote a more informed and transparent crypto ecosystem, where accurate information is readily available and misinformation is quickly debunked.This requires a collaborative effort from both crypto companies and journalists, as well as a willingness to engage in open and honest dialogue.

What Does the Future Hold?

The legal battle between Binance and The Block is far from over, and the ultimate outcome remains uncertain.However, the case has already had a significant impact on the crypto industry, raising important questions about the responsibilities of media outlets and the rights of crypto companies.It has also highlighted the power of social media in shaping public opinion and influencing the course of events.As the case progresses, it will be interesting to see how it shapes the future of crypto journalism and the relationship between crypto companies and the media.

Conclusion

The Binance CEO's decision to sue The Block over the China police raid story underscores the sensitivity within the cryptocurrency industry regarding media representation and the swiftness with which misinformation can spread and cause harm.The allegations of fake news, potential defamation, and the existence (or lack thereof) of a Shanghai office paint a complex picture of the challenges involved in reporting on the crypto world.This case serves as a critical reminder of the importance of verifying information, striving for accuracy, and understanding the potential ramifications of FUD.As the legal proceedings unfold, the outcome will undoubtedly have lasting implications for crypto journalism, setting precedents for how media outlets report on the industry and how crypto companies defend their reputations.Ultimately, this situation calls for greater transparency, responsible reporting, and a commitment to truth to foster trust and informed decision-making within the rapidly evolving cryptocurrency landscape.The key takeaway?Be vigilant, verify information, and understand the power of accurate reporting in the crypto world.The future of crypto journalism may very well be shaped by this case.Keep an eye on developments and always do your own research.