Elon Musk slams Binance on behalf of Dogecoin Cryptocurrency owners. For a technical glitch involving the cryptocurrency Dogecoin, Elon Musk took a jab at Binance. Which is the world’s largest cryptocurrency trading platform.
Elon Musk wants you to ‘hodl’ onto your Dogecoin cryptocurrency, and he wants to send a Doge. To the moon (figuratively speaking, of course). Despite the fact that Musk has backed away. From the Shiba Inu-themed cryptocurrency in recent months. A recent exchange of words on Twitter demonstrates that the Tesla CEO and SpaceX CEO. Is still on the side of the cryptocurrency’s supporters. Tesla CEO Elon Musk on Tuesday began a Twitter spat with Binance Chief Executive Changpeng Zhao. After the cryptocurrency exchange restricted withdrawals of the cryptocurrency Dogecoin. “Hey, @cz binance, what’s going on with your doge customers?” says the messager. It has a dubious ring to it “Musk sent a tweet on Tuesday.
On November 10, an upgrade to the Dogecoin network seems to have produced a problem. With network withdrawals, according to a statement issued the following day by Binance. As reported by the Mint. In their statement, they explained that a “very tiny number of users” had been affected by the update. And that some previously rejected Dogecoin withdrawal transactions had been sent again following the update. “We are cordially asking such individuals to refund the assets.” No, it’s not dodgy – it’s just irritating,” said Binance. The world’s largest cryptocurrency exchange, in response.”
Binance users should be safe from mistakes
According to Musk, “Doge holders who use Binance should be protected against faults that are not their responsibility.” “”I don’t use Binance (I tried once, but the signup process was too difficult to complete). Therefore there is no inconvenience to me personally,” he continues. I’m only bringing this up on behalf of the other Dogecoin holders.” When responding to a dig from the CEO of cryptocurrency exchange Binance. Musk highlighted an article that mentioned Tesla vehicles being called back in response to Musk’s criticism.
Reports from Reuters indicate that regulators are looking into Binance. Which is one of the major cryptocurrency exchanges in terms of trading volume. A Dogecoin promoter and Elon Musk, CEO of Tesla and SpaceX. Stated in an interview conducted in May 2021 that this cryptocurrency may be the future of the world. During the interview, he asserts that “there is a good likelihood that cryptocurrency will be the world’s future currency.” Then there’s the matter of who’s going to come out on top. “It might be a number of things,” he explained.
He then goes into detail about how Dogecoin created as a joke. Essentially as a way to poke fun at bitcoin. Which, as Musk points out, is the irony of the situation. “That the currency, which started out as a joke, evolves into a legitimate currency.”
However, he does state in the video that “you should not put your life savings into bitcoin.” That’s not a good idea.”
Dogecoin created as a joke, and it remained a joke for over seven years after its inception. After all said and done in 2021, when meme and cryptocurrency enthusiasts, aided by the GameStop upsurge. Decided to coalesce behind the meme-cryptocurrency.