Binance CEO CZ to support Terra community but expects more transparency

2022.05.15 15:46

Binance CEO CZ to support Terra community but expects more transparency

Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, recently questioned the idea of hard forking the Terra blockchain as a means to revive the once-thriving LUNA and UST ecosystems. Following up on the same, CZ revealed his perspective on the appropriate course of action for falling projects across the crypto community.

“This won’t work,” said CZ while dismissing the validators’ idea of a hard forking to TERRA2, which would involve providing a new version of LUNA to all holders based on a snapshot of the holdings before the market collapsed. CZ suggested:

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