Binance to sue The Block over FUD article

Yesterday there was an article posted that stated Binance offices in Shanghai got raided recently.

Today, the CEO of Binance 'CZ' tweeted he is going to sue TheBlock, a crypto news website that wrote the FUD article claiming it was completely false, and it damaged Binance's reputation.

Also, CZ (Binance) and Justin Sun (of TRX) both put up 100 BTC each to start an Anti-FUD Fund.

No idea what they are going to with the fund so don't ask me. No idea where The Block is or what their website is so Google it.

Find it interesting someone may finally be trying to do something about the incredible amount of FUD in the crypto world. So much FUD and fake bullcrap around the crypto industry.

With the fund.. they probably will build a team that their whole goal is to mark fake news sites as a FUD for the user so less people will fall for this. (Just a theory)

Regarding The block -- It's looks like it became their hobby to spread fud.

IG Professor said:

With the fund.. they probably will build a team that their whole goal is to mark fake news sites as a FUD for the user so less people will fall for this. (Just a theory)

Regarding The block -- It's looks like it became their hobby to spread fud.

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It iwll be interesting to see what they do with the fund. Perhaps they use it to set up a anti-fud site, kind of like snopes.com. Or maybe they use to pay lawyers to send threatening letters to anyone who posts FUD articles.

CryptoKujira said:

It iwll be interesting to see what they do with the fund. Perhaps they use it to set up a anti-fud site, kind of like snopes.com. Or maybe they use to pay lawyers to send threatening letters to anyone who posts FUD articles.

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or maybe a chrome extension that will flag sites for suspicious FUD articles.. god knows

It is weird that we don't use yet anything that prevent the generation of fake news based on the blockchain technology... Anyway CZ and Justin Sun aren't the ones who trust in the battle against fake news, they probably use that money to fight against news that affect their business

EasyCryptoName said:

Anyway CZ and Justin Sun aren't the ones who trust in the battle against fake news, they probably use that money to fight against news that affect their business

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This is a good point. CZ is both the hero and the villian in the industry. If he is hiding stuff, he sure is doing a tremendous job of keeping secrets.

His net worth now over $1b.