Tesla and Spacex CEO Elon Musk raised concerns with cryptocurrency exchange Binance about its Dogecoin issue. Musk called this situation “shady” and added that “DOGE holders who use Binance should be protected from mistakes that are not their fault.” Binance CEO Changpeng Zhao and the official of the cryptocurrency exchange Twitter accounts all responded.
Elon Musk asked questions on behalf of other Dogecoin holders
Tesla CEO Elon Musk expressed concerns on behalf of Dogecoin holders about the recent DOGE issue of cryptocurrency exchange Binance. The issue resulted in many erroneous Dogecoin transactions, and some users reported that their accounts were frozen.
Musk, sometimes referred to as Dogefather, asked Binance CEO Changpeng Zhao (CZ), “How are your Doge customers?” He added, “It sounds so dark.” His tweets attracted widespread attention. As of this writing, it has received 4.5K comments and 24.1K likes.
Both Zhao and Binance’s official Twitter accounts replied to the Tesla boss.
Binance accounts disagree with Musk on the dark side of this situation. “No, it’s not shady — it’s just frustrating, we’re working hard,” wrote the official account of the exchange, pointing the Spacex CEO to another thread, which explained the previous release in detail.
“The root cause is a technical issue in the recent upgrade process that caused old transactions to be resent to 1,674 users,” Binance explained, clarifying that the problem occurred on Binance and not other crypto trading platforms “because we have different technical wallets DOGE Settings.” The exchange added:
We had to completely rebuild the wallet, which caused a delay that we expected to last another week or so.
While acknowledging that “users who have received old transactions” and “users who cannot withdraw DOGE are uneasy”, Binance asked: “We have asked users who received old transactions to return them, but we know that some users cannot access certain wallets .”
However, Musk believes that Dogecoin holders who use Binance “should be protected from errors that are not their fault.”He continues to point to String The situation is explained by the Dogecoin developers.
The CEO of Binance quickly joined the discussion. He told Musk that his team was “very sure” that the problem was “there is a problem with the latest DOGE wallet,” and added that Binance is communicating with Dogecoin developers. Zhao then apologized to Musk for any inconvenience this issue might cause to Musk. He ended his tweet and asked when Musk’s Tesla software malfunction led to the recall of 12,000 cars. “What happened here?” he wrote.
Musk replied:
I don’t use Binance (I have tried it, but the registration process is too much to skip), so there is no inconvenience for me personally. Just raise this question on behalf of other DOGE holders.
“Appreciate.” Zhao replied. “Because of the word’gloom’, I overreacted,” he admitted.
“The KYC part is tedious, we can’t provide services for American users. But you can try Binance.us,” CZ tried to convince Musk. “It’s still a tedious registration process, but there is DOGE. We are working with their team to resolve this issue as soon as possible.” Musk simply replied, “Sounds great.”
Musk also commented on a post about centralized cryptocurrency exchanges, such as Binance and Robinhood, which are responsible for regulating people’s cryptocurrencies. Musk wrote in reply to a tweet: “It’s not your key, nor your cryptocurrency,” Musk wrote: “That’s it.”
Tesla’s CEO has previously stated that he have Three cryptocurrencies: Bitcoin (Bitcoin), ether (Ethereum) And Dogecoin (DOGE).He also confirmed that he Don’t own Any governor competitor meme cryptocurrency shiba inu (SHIB).In October, he said that the real reason he supported Dogecoin was because “it feels like People’s cryptocurrency. “
How do you think Elon Musk raised concerns with Binance on behalf of Dogecoin holders? And, what do you think of Binance’s response? Please let us know in the comments section below.
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