Elon Musk Calls Binance’s Dogecoin Problem ‘Shady’ — Says He’s Raising the Issue on Behalf of Other DOGE Holders

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Elon Musk Calls Binance's Dogecoin Problem 'Shady' — Says He's Raising the Issue 'on Behalf of Other DOGE Holders'

Tesla and Spacex CEO Elon Musk has raised concerns with cryptocurrency speech Binance astir its dogecoin issue. Musk calls the concern “shady,” adding that “DOGE holders utilizing Binance should beryllium protected from errors that are not their fault.” Both Binance CEO Changpeng Zhao and the authoritative Twitter relationship for the crypto speech responded.

Elon Musk Raises Issue connected Behalf of Other Dogecoin Holders

Tesla CEO Elon Musk has raised concerns connected behalf of dogecoin holders regarding the caller DOGE occupation astatine cryptocurrency speech Binance. The contented resulted successful galore erroneous dogecoin transactions with immoderate users reporting that their accounts were frozen.

Musk, who is sometimes known arsenic the Dogefather, asked Binance CEO Changpeng Zhao (CZ), “What’s going connected with your Doge customers?” He added, “Sounds shady.” His tweet gained overmuch attention. At the clip of writing, it has received 4.5K comments and liked 24.1K times.

Elon Musk Calls Binance's Dogecoin Problem 'Shady' — Says He's Raising the Issue connected  Behalf of Other DOGE Holders

Both Zhao and the authoritative Twitter relationship for Binance replied to the Tesla boss.

The Binance relationship disagreed with Musk astir the concern being shady. “No, not shady — conscionable frustrating and we’re moving connected it,” the exchange’s authoritative relationship wrote, pointing the Spacex CEO to different thread with a elaborate mentation of the concern it antecedently posted.

“The basal origin is simply a method contented during the caller upgrade process that caused aged transactions to beryllium resent to 1,674 users,” Binance explained, clarifying that the contented occurred connected Binance and not connected different crypto trading platforms “because we person a antithetic method wallet setup for DOGE.” The speech added:

We person to rebuild the wallet entirely, which is causing a hold that we expect whitethorn past different week oregon so.

While acknowledging that “users who received aged transactions” and “users who cannot retreat DOGE are upset,” Binance requested: “We’ve kindly asked those that person the aged transactions to instrumentality them, but we’re alert that prime users are having occupation accessing immoderate of the wallets.”

However, Musk argued that dogecoin holders utilizing Binance “should beryllium protected from errors that are not their fault.” He proceeded to constituent to a thread by Dogecoin Developers explaining the situation.

Elon Musk Calls Binance's Dogecoin Problem 'Shady' — Says He's Raising the Issue connected  Behalf of Other DOGE Holders

The CEO of Binance soon joined the discussion. He told Musk that his squad is “pretty certain” the occupation is “an contented with the latest DOGE wallet,” adding that Binance is successful connection with the Dogecoin devs. Zhao past apologized to Musk for immoderate inconvenience the occupation whitethorn person caused him. He ended his tweet asking Musk astir the clip erstwhile Tesla had a bundle glitch that prompted a callback of 12,000 vehicles. “What happened here?” helium wrote.

Elon Musk Calls Binance's Dogecoin Problem 'Shady' — Says He's Raising the Issue connected  Behalf of Other DOGE Holders

Musk replied:

I don’t usage Binance (tried astatine 1 point, but signup was excessively galore hoops to leap through), truthful nary inconvenience to maine personally. Just raising this contented connected behalf of different DOGE holders.

“Appreciate it,” Zhao responded. “I overreacted a spot owed to the connection ‘shady,’” helium admitted.

“The KYC portion is tedious, and we can’t work U.S. users. You could effort Binance.us though,” CZ tried to person Musk. “Still a tedious signup process, but person DOGE. We are moving with their squad to hole the contented ASAP.” Musk simply responded with “Sounds good.”

Musk besides commented connected a thread astir centralized crypto exchanges, similar Binance and Robinhood, taking custody of people’s cryptocurrencies. Replying to a tweet stating, “Not your keys, not your crypto,” Musk wrote: “Exactly.”

The Tesla CEO antecedently said that helium owns 3 kinds of cryptocurrencies: bitcoin (BTC), ether (ETH), and dogecoin (DOGE). He besides confirmed that helium does not own immoderate doge rival meme cryptocurrency shiba inu (SHIB). In October, helium said the existent crushed helium supports dogecoin is due to the fact that “it felt similar the people’s crypto.”

What bash you deliberation astir Elon Musk raising concerns connected behalf of dogecoin holders with Binance? And, what bash you deliberation astir Binance’s responses? Let america cognize successful the comments conception below.

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