What Binance CEO Tweets: 01. At #Binance we prioritize user protection. We made the decision to suspend LUNA and UST trading. Here’s why.
02. An exponential amount of new LUNA were minted due to flaws in the design of the Terra protocol. Their validators have suspended their entire network, resulting in no deposits or withdrawals possible to or from any exchange.
03. Some of our users, unaware of the large amounts of newly minted LUNA outside the exchange, started to buy LUNA again, without understanding that as soon as deposits are allowed, the price will likely crash further. Due to these significant risks, we suspended trading.
04. While Binance always aims to be neutral, helpful and protective of all users and industry peers, and we typically refrain from commenting on other projects, I will break that rule this time.
05.I am very disappointed with how this UST/LUNA incident was handled (or not handled) by the Terra team. We requested their team to restore the network, burn the extra minted LUNA, and recover the UST peg. So far, we have not gotten any positive response, or much response at all
06. (This is in sharp contrast to Axie Infinity, where the team took accountability, had a plan, and were communicating with us proactively. And we helped.)
07. We know there are different opinions in the community, we felt suspending trading is the best way to protect our users at this time. We will continue to monitor the situation closely 24/7. All actions will be announced on @binance . 🙏 – CZ
#luna #terra #terraluna #terranews #lunanews #btc
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31 Comments
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hello and hi, i am from Pakistan , hopefully you will address my question……I have purchased one million Luna yesterday on Binance just before the suspension of trading….If project isnt scam and burning will start, will i have effect on the quantity of my portfolio mean number of coins…thank
Sir kya aapko lgta hai terra recover hooga
I lost almost 1.95lac🤯
The economic hardship, unemployment and the loss of jobs caused by covid is enough to push people into financial venture's. I'm taking a trip into investing because I've lost so much during this pandemic.
Sir sinja coin to Gaya Eska kya kare
Suncrypto pe buying nahi ho raha hai due to risk factor..
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Bhai LUNA pump start ho gaya 🔥
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