Changpeng “CZ” Zhao, CEO of cryptocurrency exchange Binance, expressed worry for traders after becoming aware of the infamous phenomena known as trade jitters on other cryptocurrency exchanges.
Jitters in cryptocurrency trading refer to a trade occurrence where a buyer’s or seller’s purchase or sell order becomes stalled and slides down the list, allowing for the execution of subsequent trade orders.
Despite the fact that CZ’s worries about jitters did not specifically mention any one exchange, the cryptocurrency community on Twitter felt it was a jab at FTX, a cryptocurrency exchange run by Sam Bankman-Fried. In response to the community’s comment that “jitters” is a common and accepted condition, CZ added:
“All of you guys knew and didn’t say anything. We need to fight the bad players.”
CZ said to have admitted being aware of the illegal trade activity. The indirect accusation against FTX perfectly matches the period of time when the exchange and four other cryptocurrency companies received cease-and-desist letters from the Federal Deposit Insurance Corporation (FDIC).
The FDIC claims that FTX US, SmartAssets, FDICCrypto, Cryptonews, and Cryptosec misled investors by asserting that their products were FDIC-insured. Brett Harrison, the president of FTX US, deleted a tweet that made the statements the FDIC refuted in response to the directive. Crypto Twitter, however, was quick to point out a number of additional occasions when Harrison misrepresented the existence of FDIC insurance.
SBF stated his intention to collaborate with the FDIC in the future while stressing the fact that “FTX US isn’t FDIC insured” in an effort to stem the freefall.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
This website uses cookies.