Binance voluntarily drops defamation legal case against Forbes

Legal • February 8, 2021, 3:28PM EST

Binance has dropped its defamation lawsuit against Forbes, according to a court filing dated Feb. 4.

Binance sued Forbes Media and two of its writers in November of last year. The suit was in response to a story by Michael del Castillo and Jason Brett that claimed Binance "conceived of an elaborate corporate structure designed to intentionally deceive regulators." Binance called the story "false, misleading and highly defamatory," and alleged the story caused losses totaling in the millions.

Binance demanded a retraction or correction, but Forbes stood by the story, even as it faced a Binance legal team that included Charles Harder. Harder has previously represented Hulk Hogan in the Gawker Media case, Harvey Weinstein and the Trumps.

Now, Binance has voluntarily dismissed the lawsuit, although the filing doesn't indicate why it moved to dismiss. A judge has already approved the request.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to akeely@theblock.co or follow her on Twitter for updates @AislinnKeely.