Binance CEO Calls, Crypto Exchanges Respond
In order to further strengthen user confidence, on November 8, a series of major crypto companies had to speak out to reassure the community with a statement of not contacting or related to FTX and FTT tokens.
And not long after, Binance CEO Changpeng Zhao also directly posted a status line on his personal page, calling on today’s popular exchanges to provide proof of customer deposits.
This is considered as a solution that Binance offered to avoid a similar situation as FTX, which suddenly stopped processing withdrawals amid the current chaos, which has a great impact on the interests of users and the entire crypto industry.
Accordingly, OKX is the first exchange to announce its plan to publish an asset report soon (within 30 days). In addition, OKX concurs that this action is an important step towards establishing fundamental trust in the industry among users.
Justin Sun also stated that he wants to follow the call of the CEO of Binance. Although both Huobi and Poloniex (both controlled by Justin Sun) have regularly released asset endorsement reports in the past, given the current situation, another new report is essential to enhance user trust.
In addition, Justin Sun decided to “rescue” users who were stuck and unable to withdraw tokens of the Tron ecosystem, including TRX, BTT, JST, SUN, and HT on FTX, through conducting compensation for these tokens with a 1:1 ratio from Huobi exchange and TRON DAO. Losing users can fill out the registration form to receive support from Tron.
To this day, Coinbase and Kraken have published reports to prove that protecting user assets is always a top priority. And other exchanges are already planning to announce proof-of-reverse.
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 us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
The Roaring Kitty lawsuit, led by Martin Radev, alleged Gill used his social media influence…
The Silvergate SEC settlement addresses charges that the bank and its former executives failed to…
Nate Geraci said the U.S. Securities and Exchange Commission has acknowledged receipt of the 19b-4…
The volume-weighted average price (VWAP), which displays an asset's value fluctuations throughout the day, is…
The long Binance US SEC lawsuit tussle suddenly took a different turn as the Court…
Polkadot spend's financial report for the first half of 2024 revealed a euphoric spending spree…
This website uses cookies.