Binance Sues Wall Street Journal Publisher for Defamation
Crypto giant Binance takes Dow Jones to court over article about Iranian-linked transactions.
Binance is swinging back. The crypto exchange just filed a defamation lawsuit in New York against Dow Jones, parent company of the Wall Street Journal.
The target: a February 23 WSJ article about how Binance allegedly handled transactions linked to Iran. Binance clearly didn't appreciate the portrayal.
The timing makes this particularly spicy. Binance is already under a compliance microscope following its massive $4.3 billion anti-money laundering settlement. The exchange operates under a compliance monitor as part of that deal.
So now Binance is fighting on two fronts — maintaining regulatory compliance while simultaneously going on legal offense against one of the world's most prominent financial publications.
Defamation suits against major media outlets are notoriously difficult to win. But Binance apparently decided the reputational damage warranted the courtroom battle.