Changpeng Zhao, CEO of Binance, has been dealing with a host of issues, both good and bad. Over the past month, the exchange has seen several token launches and a hack which resulted in the loss of over $41 million.
Now, CZ is being accused of causing the “pump and dump” of several coin’s prices, via their actions. These allegations are fronted by DonAlt, the prominent cryptocurrency investor and analyst with over 98,000 followers on Twitter. The analyst added that he follows the likes of “CZ and Binance” for “VITAL information” and to be “well informed.”
DonAlt added that any deviation against Binance’s opinions will get you “blocked.” His tweet, referencing the censorship at the behest of the largest exchange in the world, together with a picture attesting the same read,
I follow exchanges for VITAL information.
CZ and Binance literally pump and dump prices with their actions.
You kind of have to follow them to be well informed.
While that is happening, they force feed you shit.
If you complain or voice dissatisfaction – You’re blocked. pic.twitter.com/moSaG0P7zR
— DonAlt (@CryptoDonAlt) May 23, 2019
It should be noted that DonAlt’s comments came less than a day after he complained that the exchange and its CEO were relentlessly “shitposting.” Despite voicing his dissatisfaction at being blocked, he had previously said that he had “personally muted” both Binance and CZ.
The trader had tweeted,
I wish Binance and CZ would stop shitposting so much.
I personally muted both accounts.
Couldn’t stand having a shitty Twitter feed consisting out of low effort RT’s of girls asking for hoodies and Pizza.
Most cartoon characters on here have a cleaner timeline than they have…
— DonAlt (@CryptoDonAlt) May 22, 2019
Interestingly, CZ, who often veers away from Twitter conflicts responded to DonAlt. The Binance CEO stated that if the trader was displeased at the content put out by the former, he can simply “Click unfollow, and stop complaining,” citing the “Freedom of choice” argument as his concluding point.
He responded to DonAlt,
why do you still follow me? lol. Click unfollow, and stop complaining to try to change others, change yourself. Freedom of choice.
— CZ Binance (@cz_binance) May 23, 2019
Following the incident, CZ blocked DonAlt.
With the accusation of Binance allegedly causing a ‘pump and dump’ in several cryptocurrencies’ price, the trader was evidently irritated about their incessant marketing equating his Twitter timeline to a “professional dumpster,’ due to Binance’s shares.
Maintaining that he respects the exchange’s “transparency” regarding timely updates during the period of their hack, DonAlt added that he had “several arguments” with the exchange about the posts relating to their IEO projects.
Josh Rager, another prominent crypto-trader and advisor at Token Bacon and Level Invest, added on to the criticism of Binance, stating,
The worst part is his little group of minions that tag him in anything not positive
I’m shocked at the amount of people who kiss his ass
They have no clue what goes on behind scenes
— Josh Rager 📈 (@Josh_Rager) May 23, 2019
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Binance Chain testnet undergoes ‘Galileo’ update via hardfork; mainnet to follow suit
Binance Chain’s testnet underwent a hardfork today at block height 24,020,000, at around 2019/06/26 7:00 AM (UTC). The new update will have various bug fixes, improvements to the existing chain, and is expected to improve on-chain performance.
.@Binance Chain Galileo Upgrade Announcement
The Binance Chain testnet is expected to have a scheduled hard fork upgrade at block height 24,020,000, around 2019/06/26 7:00 AM (UTC). Binance Chain Mainnet will also be undergoing an upgrade at a later date.https://t.co/0d46tN1qDx pic.twitter.com/FGsMs9WcTe
— Binance DEX (@Binance_DEX) June 26, 2019
The new announcement details all the features the new update will include for DEX users, or any exchanges that list BNB, or run a client. The BNB blockchain will provide validators access to create a “delist protocol” and vote on delisting trading pairs that have very little volume for a long time via governance.
The Galileo update will also provide a “Time Locking” feature for token assets, while also improving the Match Engine in Binance DEX, which according to the blog is “not optimized in some cases.” The complete list of changes is available for users to read in the changelog.
The testnet changes will be followed by changes on the mainnet. The blog added,
“Binance Chain Mainnet will also be undergoing an upgrade a few weeks later (please stay tuned with the later announcement).”
Additionally, Binance also announced the launch of Binance 2.0 for everyone, which also includes the margin trading feature on Binance. The Binance 2.0 has the website revamped, with the old one being decommissioned soon.
While some users complained that there were problems depositing USDT, others complained that margin trading feature was still not available.
A Twitter user, @rallyqt, commented,
“- Galileo upgrade
– Binance stable coin
– Binance DEX
Keep building & piecing the Binance ecosystem together! 🧩
@cz_binance, how many users signed up for Binance this year? Alt fomo season starts when exchanges have to temp close due to an influx of users haha 😉😊”
“We have increased our registration capacity in anticipation of this, a year ago. It should work, in theory, let’s see what happens. 😂
Registrations are definitely picking up speed.”
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