On Feb. 19, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executive’s “gung-ho” pronouncements regarding Dogecoin. Tesla co-founder and hypothetical Dogecoin (DOGE) CEO Elon Musk has asserted that “only a fool” would not seek out alternative investments to fiat currency given current interest rates on Twitter today. During the interview, CZ implied that Tesla’s recent decision to invest $1.5 billion or 7.7% of its treasury into Bitcoin (BTC) likely evidenced Musk’s deep support for Bitcoin. On Twitter, Musk said, “Tesla’s action is not directly reflective of my …

Leading crypto asset exchange Binance was forced to suspend its spot and margin trading services just a few minutes after its CEO took to Twitter to boast the platform had smoothly handled new record highs for website traffic. Binance chief executive Changpeng Zhao, or CZ, tweeted the exchange had experienced a new all-time high for traffic on Feb.10, stating the platform had “handled the load” of a 60% increase in traffic on top of the previous day's record traffic. CZ also noted that new user sign-ups had tagged record highs: “New account registrations are still open, not sure for how …

The world’s largest cryptocurrency exchange, Binance, has dropped its defamation lawsuit against news publication Forbes and two of its journalists, according to official court documents. Binance Holdings filed a lawsuit against Forbes, along with journalists Michael Del Castillo and Jason Brett in November, following an article that alleged Binance sought to purposely distract and dodge United States financial regulators. A notice of voluntary dismissal was filed in a U.S. district court in New Jersey on Feb. 4, ending the pending legal action against Forbes. The filing contains no explanation for the withdrawal of lawsuit, stating simply that Binance, “Hereby gives …

Changpeng Zhao, the chief executive of Binance, the world’s largest crypto exchange by trade volume, reported a record of $80 billion in 24-hour trade activity on Jan. 4. On Twitter, CZ compared the recent activity to the volume posted during the last record-breaking bull cycle, noting that the past day of trade equates to four-time the volume processed on the exchange from Nov. 15, 2017 to Dec. 15, 2017. To put this in perspective, from Nov 15, 2017 to Dec 15, 2017, the month leading up to the ATH in 2017, @Binance did $20 billion in trading volume in 1 …

Both Binance and Coinbase suffered technological issues on Wednesday — the same day Bitcoin (BTC) crossed the $20,000 price threshold for the first time. Binance related its issues to the number of people surfing the exchange. Changpeng Zhao, or CZ, Binance’s CEO, tweeted on Wednesday at 2:13 pm UTC: “#Bitcoin just popped. Experienced some scaling issues. Should be fixed for now. Underestimated demand. Adding A LOT more ‘servers’ still.” An update from CZ came about half an hour later, revealing improvements, as well as a dramatic surge in users on the platform. “Still some latency issues here and there. Working …

Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble. In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.” Zhao went on to say that the DeFi industry has a lot of potential for growth, noting that DeFi still …

Binance founder and CEO Changpeng Zhao, or CZ, says he needs to do more to block “intelligent” US traders from illegally accessing his global exchange. In an interview with Bloomberg, CZ said his exchange needs to be “smarter about the way we block” US traders from gaining access to the platform. He said: “Basically, we do continually try to improve our blocking. There are sometimes a few guys who want to circumvent our blocking and still use the platform and we have to come up with a smarter way to protect that and when we do, we block them.” Binance, …

Changpeng Zhao, CEO of Binance, is pushing back hard against allegations that the crypto exchange set up its U.S. arm to circumvent regulations and surreptitiously profit from investors. According to an Oct. 29 article from Forbes writer Michael Del Castillo, the news outlet claims to have obtained a leaked presentation outlining Binance’s plans for operating in the United States. The document states that in 2018 — prior to the launch of Binance.US — the crypto exchange intended to set up a “Tai Chi entity” in the U.S. to act as a type of regulatory lightning rod protecting its main operations …

Lately, in the crypto scene, everything related to decentralized finance is being considered a gold mine. While DeFi has brought solid projects to the industry, there’s also a hot new craze, and it’s related to food. Everything from yams to burgers is now being converted to a coin and sold like a tasty meal at a food fair, and investors can’t seem to get enough of these food-themed coins. However, there are growing concerns over the sustainability of these DeFi projects. At the beginning of the month, Hotdog, a food-themed project, shed 99% of its value within minutes. The occurrence …

Decentralized finance is in full swing, and one of its biggest supporters appears to be the exchange Binance. The platform's United States branch recently joined the Chicago DeFi Alliance, with the aim to further develop the U.S. DeFi industry. Additionally, Binance's support for new DeFi projects continues to grow. Most recently, the exchange has demonstrated close ties with BurgerSwap, a new decentralized exchange that aims to improve upon Uniswap. While it's clear that Binance has taken a tremendous amount of interest in DeFi, it's notable to point out that Binance's CEO, Changpeng Zhao, has been bullish on DeFi for a …

OKEx CEO Jay Hao called out Binance and its CEO Changpeng Zhao for their recent support of certain DeFi projects. He also claimed that Binance Smart Chain, or BSC, is highly centralized, noting that it is wholly controlled by a single team. According to Hao, BakerySwap, built on BSC, collapsed after only 12 hours, leading to protests in China and elsewhere: Source: Twitter. Today’s thread follows up on a series of tweets from September 15, in which the OKEx CEO condemned Zhao and his fellow Binance co-founder, Yi He, for their platform's hasty SUSHI listing. Hao criticized Binance’s “irresponsible behavior …

Binance’s Changpeng Zhao has received more than his fair share of criticism since Binance’s 2017 launch. As a high-profile crypto figure and the CEO of one of the sector’s largest companies, that is to be expected. But the denunciation leveled at him after the anonymous Chef Nomi’s SushiSwap sell-off scandal has been unwarranted. Few things are more antithetical to the ethos of decentralized finance than having a single figure being the arbiter of the quality or viability of a project. If crypto and decentralized finance are borne of the desire to democratize financial markets and liberate the public from the …