Binance Casino dropped lawsuit against Forbes (Operation Tai Chi)Forbes showed the world the real side of Binance business, more details in the article Forbes: Binance makes money on US investors by deceiving regulators (Operation Tai Chi), where ScamBinance investigation and public information were used as the basis, including the article How Binance hides its legal structure from regulators and users. You are advised to read the material, it is very informative - if you are still a Binance customer and you don't care at all about the safety of your money.
After the publication of the material, Binance Casino, represented by BINANCE HOLDINGS LIMITED, filed a defamation suit against Forbes Media on November 18, 2020. On Feb. 4, 2021, Binance dropped its claims against Forbes Media and its two journalists, Michael del Castillo and Jason Brett. This is evidenced by a document filed on February 4, 2021 in U.S. District Court in New Jersey:
In its lawsuit, Binance claimed that the authors of the material, Michael del Castillo and Jason Brett, spread false information about it, and intended to seek compensation from Forbes for the harm caused, as well as to have it removed from the publication's website. Which in part proves true both our ScamBinance portal and Forbes' mini-investigation of the dubious operations and business practices of the underground Binance exchange.
The Forbes publication was based on the so-called "Taijiquan formation," which was allegedly needed by the exchange to circumvent regulators in the U.S. through a separate legal entity. This entity was to divert the attention of U.S. authorities, while Binance could operate freely in the country, the report said.
Forbes' head of public relations, Matthew Hutchinson, said in regard to the latest developments:
"As we have said before and continue to insist now, we are fully committed to our exhaustive publication."
We are planning to publish an article on behalf of ScamBinance about how Binance continues to circumvent U.S. trade bans and how it continues to defraud U.S. regulators by offering its services to U.S. citizens and residents.