Binance Suspends Spot LUNA, UST Trading as CZ Outlines Disappointment With Terras Actions
-The worlds largest crypto exchange suspended LUNA and UST spot trading shortly after doing so to the LUNA coin-margined perpetual contracts.
-The companys CEO took it to Twitter to offer his view on the matter.
-He believes some investors began accumulating portions of LUNA, whose price had tumbled from above $80 to well under the 2018 ICO price of $0.8, because they didnt understand that as soon as deposits are allowed, the price will likely crash further.
-Despite a few speculations and proposals, TerraForm Labs and the LUNA Foundation Guard are yet to publish a specific solution to this mayhem.
-As such, CZ said he was very disappointed with how the team handled (or not handled) the situation.
Share this:
Related
More Stories
Crypto needs regulation to avoid washouts like FTX, says Coinbase CEO Brian Armstrong
FTX declared bankruptcy after revelations about its business practices led to a surge of customer withdrawals, without sufficient funds to...
Slight Bitcoin Bullishness Continues Despite Market Cap Drop
The total cryptocurrency market capitalization dropped by 5% between Nov. 14 and Nov. 21, reaching a notable $795 billion. -However,...
Ethereum to fuel bullrun to $2,000 in coming weeks
- Ethereum's performance last week outperformed Bitcoin's by three times on the weekly chart. - Experts believe that Ethereum's burning...
JPMorgan’s Recent Experiment Proves Crypto is Here to Stay!
Ethereum was created in 2013, laying the foundation for cryptocurrency to take the largest step in its evolution since the...
tWhy Bitcoin and Ethereum Investors Are Losing Money
- Investors in Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies are losing money at a historic pace - The news...
“Bitcoin is Dead” – Mainstream Media 466 Times
The mainstream media has been publishing articles blaming crypto for the collapse of the FTX exchange and Sam Bankman-Fried's crypto...
