Binance Founder Responds to User Complaint About Leverage Coins Removal
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Answer Binance Founder Responds to User Complaint About Leverage Coins Removal
After Binance suddenly removed the leveraged coins from trading on its platform (link to the topic of the deletion decision).
Users reacted a lot and there was a complete mess in terms of why they did it and what the alternatives were, meaning people reacted in different ways about the latest Binance decision.
Where the Binance platform provided three options for users, which are as follows:
- The option to trade in the current positions until tomorrow, March 31.
- Withdraw to other trading platforms that support these currencies.
- Or keep it until it is equalized in BUSD from Binance.
FTX CEO Sam Bankman-Fried reacted by tweeting that Binance failed to educate users about leveraged coins.
Read:Bitcoin and stock prices fall as tensions escalate between Russia and Ukraine and inflation rattles markets
to reply The founder of Binance responded to a user complaint about the removal of leveraged coins through his Twitter account.
He justifies by saying that people can wait for a month and check the price of leveraged coins.
User protection comes first.
Looking at the comments in previous posts, I expect some complaints still. If you don’t like our decision on this delisting, check back the prices of these tokens in a month, and let us know if you’re still complaining at the time. 🙏
– CZ Binance 🔶🔶🔶 (cz_binance) March 28, 2020
He proudly states that his company made the right decision and the complainants can come and check their positions in these currencies after a month.
While other cryptocurrency exchanges like FTX are still sticking with leverage coins.
Read:VanEck files its Bitcoin ETF file with the SEC
Did Binance really make the right decision at the time?
Nobody knows yet.
Even Bitcoin is experiencing extreme fluctuations in its value at the moment and in light of the spread of the Corona virus.
So only time will tell us where Bitcoin goes and how correct Binance’s decision is.
Read also:
Binance Card for Cryptocurrency… Learn some of its details
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