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Binance’s CZ Seeks Compensation From Sequoia for Alleged Reputational, Financial Damage

Published 05/23/2019, 07:30 AM
Updated 05/23/2019, 07:42 AM
Binance’s CZ Seeks Compensation From Sequoia for Alleged Reputational, Financial Damage

Changpeng Zhao, the CEO and founder of major crypto exchange Binance, is seeking damages from venture capital firm Sequoia Capital China for having ostensibly hurt his reputation and unjustly prevented him from raising capital during its now-dismissed legal challenge against him last year. A Binance spokesperson shared the news with Cointelegraph on May 23.

Attorneys for Changpeng Zhao — better known in the industry as CZ — filed an application on May 20 with the Hong Kong High Court, seeking an inquiry into whether CZ “sustained any and what damages” as a result of the ex parte injunction order Sequoia obtained against him in December 2017.

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