tesla and spacex ceo elon musk own raised concerns with cryptocurrency exchange binance about its dogecoin issue. musk calls the situation “shady,” adding that “doge holders using binance should be protected from errors that are not their bloom.” one and the other binance ceo changpeng zhao and the official twitter trace the crypto exchange responded.
tesla ceo elon musk own raised concerns as a substitute dogecoin holders regarding the recent doge problem at cryptocurrency exchange binance. the issue resulted in numerous erroneous dogecoin transactions with some users reporting that their accounts were blanched.
musk, who is here and there known as the dogefather, asked binance ceo changpeng zhao (cz), “what’s extant with your doge customers?” he added, “sounds shady.” his tweet gained much attention. while of writing, it own received 4.5k comments and liked 24.1k times.
one and the other zhao and the official twitter trace binance echo to the tesla boss.
the binance account disagreed with musk about the situation being shady. “no, not shady — right frustrating and we’dualize on it,” the exchange’s official account wrote, guiding the spacex ceo to a further thread with a detailed declaration of the situation it previously au fait.
“the root cause is a manufacturing issue during the recent upgrade process that caused old transactions intended resent to 1,674 users,” binance explained, clarifying that the issue occurred on binance and outmoded other crypto trading platforms “because we have a different manufacturing wallet setup for doge.” the exchange added:
we is becoming rebuild the wallet entirely, which is causing a delay that we sense may commencement a further week or so.
while acknowledging that “users who received old transactions” and “users who cannot withdraw doge are regard,” binance desired: “we’ve kindly asked those that receive the old transactions to return xem, but we’re aware that select users are having trouble accessing some of the wallets.”
however, musk argued that dogecoin holders using binance “should be protected from errors that are not their bloom.” he proceeded to manifest a thread by dogecoin builder explaining the situation.
the ceo of binance soon joined the discussion. he told musk that his team is “dainty certain” the problem is “an issue with hot off the press doge wallet,” adding that binance is in the dope with the dogecoin devs. zhao then apologized to musk for any inconvenience the problem may have caused her. he ended his tweet requisition musk about appointed hour when tesla had a software glitch that prompted a recall of 12,000 shipment. “what happened here?” he wrote.
i don’t use binance (tried uniting point, but signup was disproportionate hoops to jump through), so no inconvenience to the speaker. right raising this issue as a substitute other doge holders.
“appreciate it,” zhao responded. “i overreacted each and every now that direction ‘shady,’” he admitted.
“the kyc part is tiring, and we can’t service u.s. users. you could try binance.us though,” cz tried to convince musk. “still a tiring signup process, but have doge. we are working with their team to fix the issue asap.” musk simply responded with “sounds good.”
musk also commented on a thread about centralized crypto exchanges, like binance and robinhood, taking custody of mortality’s cryptocurrencies. replying to a tweet stating, “not your keys, not your crypto,” musk wrote: “exactly.”
the tesla ceo previously said that he owns three kinds of cryptocurrencies: bitcoin (btc), ether (eth), and dogecoin (doge). he also confirmed that he does not own any doge number meme cryptocurrency shiba inu (shib). in october, he said the real interests he supports dogecoin is because “it hide like country’s crypto.”
what do you deliberate elon musk raising concerns as a substitute dogecoin holders with binance? and, what do you deliberate binance’s responses? let us know in the comments section below.
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