In a recent development, Bitfinex Shareholder Christopher Harborne and AML Global Ltd. have taken legal action against the Wall Street Journal (WSJ), alleging defamation following a March 2023 article. The lawsuit, filed in a Delaware state court on Feb. 28, contends that the esteemed financial publication tarnished Harborne’s and AML Global’s reputations with what they claim are baseless accusations of fraud, money laundering, and financing terrorism.
Bitfinex Shareholder and Brexit Supporter Christopher Harborne Sues Wall Street Journal for Defamation
Christopher Harborne, also known as Chakrit Sakunkrit in Thailand, is a Bitfinex shareholder and a supporter of Brexit. He is suing the Wall Street Journal (WSJ) for defamation…— DexBot (@dexbot) March 1, 2024
Contentious Allegations
The focal point of the article revolved around Tether and Bitfinex’s purported struggles in maintaining connections with the global banking system. Initially, the piece contained paragraphs implicating Harborne and AML, but these sections were later removed, hinting at potential inaccuracies. Despite holding a minority stake in Bitfinex, Harborne maintains in the suit that he lacks any managerial authority within the company, thus undermining the allegations against him.
Key Players and Investigations
The WSJ article shed light on the intricate web of relationships surrounding Tether and Bitfinex, spotlighting key players such as Brock Pierce and Giancarlo Devasini. Pierce, known for his transition from child actor to serial crypto entrepreneur, and Devasini, a former plastic surgeon turned Bitfinex executive, were depicted as central figures in the creation and management of Tether and Bitfinex.
WSJ revealed that 4 people hold about 86% of #Tether‘s shares
Italian citizen and former plastic surgeon Devasini holds 43%, CEO Jean-Louis van der Veld and legal adviser Stuart Hoegner each hold 15%, Christopher Harborne, a businessman of British and Thailand, owns about 13%. pic.twitter.com/q0tFPn6vv6
— Technical Crypto Analyst (@TechCryptoAnlst) February 3, 2023
The report also delved into insights from the New York Attorney General’s investigation, revealing ownership structures within Tether and Bitfinex. Figures like Jean-Louis van Der Velde and Stuart Hoegner, reportedly wielding significant control over Tether in 2018, were highlighted.
WSJ’s Defense and Response
In response to the lawsuit, the WSJ defended its actions, citing a review process that led to the removal of contentious sections from the article. However, Harborne and AML remain steadfast, asserting that the damage caused by the initial publication cannot be undone merely by post-editing.
This legal clash between a Bitfinex shareholder and a prominent financial publication underscores the complexities and controversies surrounding the cryptocurrency industry, as well as the challenges in reporting on such matters accurately.
