I spoke to @cz_binance about Binance’s support of Terra 2.0 after its massive collapse
“I think overall, the whole situation is a disaster,” CZ said. “I believe, fundamentally, there were mistakes in the design of UST.”
Here are some highlights
1/6https://fortune.com/2022/05/31/binance-ceo-changpeng-cz-zhao-interview-terra-luna-ust-do-kwon/ …
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CZ said Binance had to list the new Luna token, but will ensure that users are warned thoroughly on the exchange before buying “We need to provide continuity of the liquidity … even though it's not a brand new coin that we want to list. It's not an ideal situation,” he said.
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CZ said he was very surprised when reports came out saying Do Kwon was behind Basis Cash, but was even more surprised that his team didn’t know. Anon founders are common in crypto, and that’s not necessarily a bad thing, but CZ notes Binance “should do better” w/“due diligence”
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And, “For the record, I have never spoken to Do Kwon directly,” CZ said. Not in 2018 when Binance invested in TFL, and not recently. Do tried to speak with CZ directly a few times, CZ said, but “I didn't want to start a separate channel where I have to personally manage him”
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CZ has seen .
@FatManTerra’s tweets, and actually instructed his team to investigate the allegations brought forward by the account. “I said, ‘…If we can draw any conclusions, we should share that with law enforcement.’ To date, we cannot confirm or deny any of the allegations”2 replies 18 retweets 70 likesShow this thread
Wow, interesting. TBF, CZ himself can't be held culpable for any of this - he's a busy man. The onus falls on his negligent marketing & listing teams. Sadly, someone will have to foot the bill, but Binance will ultimately be better for it. He seems like a good man.
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