Binance sues Wall Street Journal for defamation over story on Iran investigation

Reuters03-12

UPDATE 1-Binance sues Wall Street Journal for defamation over story on Iran investigation

Updates with comment from WSJ standing by its reporting

WILMINGTON, Delaware, March 11 (Reuters) - Binance sued the Wall Street Journal and its parent company Dow Jones on Wednesday, alleging they published a defamatory report that the world's largest cryptocurrency exchange had ended an internal investigation into a $1 billion transfer through the company to Iran-backed terror groups.

Binance accused the WSJ of falsely reporting that its compliance staff were fired for their role in the investigation and that the company did not take action over the Iran investigation
Binance's lawsuit says it sought a correction and Dow Jones refused
Binance alleges the WSJ demonstrated malice by rushing to publish to compete with the New York Times
“We stand by our reporting,” a WSJ spokesperson said
Binance says members of Congress demanded an inquiry after the WSJ story, damaging the company's reputation
Binance is seeking unspecified damages, including punitive damages
The lawsuit was filed in federal court in Manhattan
Binance has been sued for transactions that allegedly helped terror groups
Company pleaded guilty in November 2023 to violating U.S. anti-money-money-laundering law.

(Reporting by Tom Hals in Wilmington, DelawareEditing by Matthew Lewis)

((thomas.hals@thomsonreuters.com; 610-544-2712))

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