Binance has filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators was defamatory. Binance is demanding both compensatory and punitive damages.
The article, which appeared on the Forbes website on Oct 29 2020, reported that the ‘Tai Chi’ document contained details of a scheme designed to “intentionally deceive regulators” in the United States. According to Forbes, the document described a plan to funnel revenue from a U.S. entity back to Binance while insulating the company from U.S. enforcement.