Bloomberg Chinese apologizes: The previous article's title contained "false and unfounded" accusations against CZ and Binance

On July 17, Bloomberg Businessweek Chinese Edition issued a statement on its official website, apologizing to CZ and his organization Binance for the erroneous cover headline "CZ's Ponzi Scheme" published in its 250th issue (July 6, 2022). The statement indicated that the cover headline was a false and baseless accusation that caused harm and distress to CZ and Binance. In response, Bloomberg Businessweek Chinese Edition unreservedly retracted the content and apologized, promising not to publish or make any similar accusations in any form in the future.

As agreed by both parties, Bloomberg Businessweek Chinese Edition will donate a sum of money as compensation to a special education school foundation.

Binance responded by stating, "We are pleased to see the erroneous accusations being retracted. We will continue to focus on providing the best service and innovation for our users, while also setting an example to ensure the health and sustainable development of the industry."

Additionally, Binance has achieved a phased victory in other matters. On June 29, in a ruling by a U.S. federal court, the judge dismissed several key claims by the U.S. Securities and Exchange Commission (SEC), ruling that the SEC failed to prove that the sale of BNB tokens by cryptocurrency exchanges on the secondary market constituted a securities transaction. The court also rejected the SEC's argument that Binance's fiat-backed stablecoin BUSD constituted an investment contract.

This ruling is not only a legal victory for Binance but also acknowledges significant limitations on the SEC's regulatory authority over the cryptocurrency industry. The court appropriately criticized the SEC's decision to litigate an industry worth billions of dollars on a "case-by-case, coin-by-coin, court-by-court" basis, which has resulted in inconsistent outcomes and ambiguity.

Prior to this, following a settlement between Binance and U.S. regulators at the end of 2023, on April 30, Binance founder and former CEO CZ formally accepted a judgment in a U.S. federal court in Seattle, receiving a sentence of four months in prison. This sentence was better than market expectations, resolving related historical issues and further consolidating Binance's leadership position in the global cryptocurrency market.

In early June, Binance announced that its global user base had surpassed 200 million. Binance CEO Richard Teng posted on social media, stating, "The number of registered users on the Binance platform has exceeded 200 million, and this number continues to grow. This achievement reflects the ongoing trust of the crypto community and industry participants in the Binance ecosystem. Binance will cherish this trust— as a user-centric platform, Binance is always committed to prioritizing the needs of its growing user base."