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Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’

Akash Anand



Binance CEO reveals BitTorrent [BTT] airdrop error, reassures users that 'funds are SAFU'
Source: Pixabay

The world of cryptocurrencies has seen a massive shift in sentiments after the recent bullish surge that enabled a lot of coins to climb up on the charts. The price hike also resulted in some cryptocurrencies changing ranks within the spectrum, with the main switch being EOS overtaking Litecoin [LTC] to become the fourth largest cryptocurrency.

In the midst of this shakeup, Binance CEO Changpeng Zhao gave an update regarding a test on that resulted in changes in the amount of BTT tokens transacted in the airdrop.

Source: Twitter

The Chief Executive Officer of Binance claimed that the error from the tester’s side has only affected a few buyers, who in turn got a few extra BTT tokens. He also stated explicitly that ‘funds are SAFU’. One Twitter user @DAXPartners commented,

“Haha not like is a problem to get some extra BTT.”

To this comment, CZ replied,

“ It is, some balances will be wrong. It’s being fixed now. Funds are #SAFU”

Another user had no qualms about the error, stating,

“Explains how my low bid got filled.”

Changpeng Zhao pointed out that,

‘Secondary beneficiaries, one reason to use an exchange, I guess!”

Tron’s BTT was also in the news recently when it was announced that the token will be paired with multiple stablecoins on Binance. The latest token from the Tron stables will be paired with stablecoins like Paxos, USD, and USDC. Ever the enthusiastic supporter of developments in the Tron ecosystem, Justin Sun, the CEO and Founder of Tron Foundation thanked CZ’s decision to add the pairs on Binance’s platform and also revealed another announcement. Sun tweeted,

“#BTT will be listed on @MBAexOfficial, you can deposit #BTT at 12:00 on Feb 14, 2019(SGT), withdraw $BTT at 12:00 on Feb 22, 2019(SGT). BTT/BTC, BTT/USDT, BTC/MDP will be available at 12:00 on Feb 15, 2019(SGT). #BitTorrent $BTT #TRON #TRX.”

Binance’s attempts to push cryptocurrencies into the mainstream realm and create an inclusive and safe environment was also evidenced when the exchange delisted CLOAK, MOD, SALT, SUB and WINGS. The company reasoned that the move was done over issues with commitment of the team, evidence of unethical/fraudulent conduct and level and quality of development activity.

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Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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