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Binance CEO CZ accused of causing ‘pump and dump’ by prominent trader after being blocked on Twitter




Binance CEO CZ accused of causing ‘pump and dump’ by prominent trader following Twitter block
Source: Unsplash

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,

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,

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,

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,

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Binance Chain testnet undergoes ‘Galileo’ update via hardfork; mainnet to follow suit




Binance Chain testnet to receive 'Galileo' update via a hardfork; mainnet to follow soon
Source: Unsplash

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.

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
– Margin
– 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 😉😊”

CZ replied,

“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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