Bloomberg Businessweek has issued a formal apology to Binance and its co-founder, Changpeng Zhao (CZ), for publishing a misleading and defamatory cover story. The apology comes after Bloomberg’s Chinese edition acknowledged errors in its reporting, which led to false accusations against the cryptocurrency exchange and its leadership.
Bloomberg’s Apology and Acknowledgment
1. Admission of Fault
Bloomberg Businessweek’s apology centers around a cover story that contained false and baseless allegations against Binance and CZ. The publication admitted to the inaccuracies in its reporting, acknowledging that the headline was misleading and did not reflect the truth about the exchange’s operations.
2. Impact on Binance and CZ
The misleading cover story had significant repercussions for Binance and CZ, triggering a wave of negative publicity and concerns among investors. The apology from Bloomberg is seen as a step towards rectifying the damage caused by the erroneous reporting.
Response from Binance
Binance responded to Bloomberg’s apology with a statement of acceptance, noting the importance of factual and responsible journalism in the crypto industry. Changpeng Zhao emphasized the need for accurate reporting to maintain trust and transparency within the community.
