Binance CEO Confronts Elon Musk for Bringing Up Dogecoin Issues: Twitter Thread

Elon Musk Binance
Source: esiznews

Binance CEO Changpeng Zhao recently confronted Elon Musk on Twitter after the Tesla CEO called the platform’s Doge glitch shady on Tuesday. Musk, also known as a meme coin advocate, confronted Zhao over their DOGE customer handling.

This is not Zhao and Elon Musk’s first spat. The pair’s collision dates back to February. While in an interview with Bloomberg, the Binance CEO shared his shock at finding out that Elon Musk was a Dogecoin advocate.

Zhao shared that he felt that the Tesla CEO was “not really associated” with the meme coin in any way. Additionally, in yet another interview in June, Zhao shared that Musk should be careful when tweeting about crypto.

Elon Musk’s Twitter Spat With the Binance CEO

On a CoinDesk Twitter thread, Musk tagged Zhao asking him about the DOGE glitch on the platform and the DOGE customers. He termed how the platform was handling the whole thing ‘shady.’

Through their corporate account, the platform answered that the process was, in fact, “frustrating” and not shady. Zhao using his personal account replied to Musk’s tweet apologizing for any inconveniences caused. Zhao also linked the glitch to the latest DOGE wallet.

The crypto exchange platform shared that it is working with DOGE developers. The two are working toward building the Dogecoin wallet and resolving the glitch entirely. Elon Musk tweeted that the platform users should not suffer due to the issues the platform is experiencing.

While replying to Musk’s tweets, Zhao also pointed out Tesla’s own glitch. According to a November 2 article by The Guardian, Tesla had recalled almost 12,000 US vehicles due to a glitch in the software. Zhao linked this particular article before tweeting, “What happened here?”

The tweet by the richest man in the world was a sign that he is still an avid supporter of meme coins regardless of his recent silence on matters regarding meme coins. As previously seen in other tweets, Musk’s tweets have the power to either positively or negatively influence a token’s trading value.

Binance Suspends DOGE Withdrawals

Source: Andy2clock/Twitter

On November 11, the Binance exchange suspended Dogecoin withdrawals after the exchange suffered a glitch due to a network update. The crypto exchange platform communicated that withdrawals would resume once they resolved the issue. The Dogecoin suspension could last up until November 29.

The platform faced a lot of backlash from its users, who shared that Binance initiated the withdrawal of DOGE without their consent. The users were also furious because the exchange had additionally asked them to return the DOGE tokens that were not in their Binance accounts.

Several users of the largest crypto exchange in the world by trading volume shared screenshots of their failed withdrawals. Several users shared that the exchange asked them to return DOGE to the exchange. Failure to do so would result in their withdrawal function remaining deactivated. The affected users shared that they did not have any DOGE in their accounts to return.

Other users posted screenshots of their suspended accounts as the exchange asked them to pay DOGE amounts they never had. This whole setback led to many people switching to other crypto exchanges after leaving Binance.