Binance customers should not relax
2023.02.28 13:21
Binance customers should not relax
By Tiffany Smith
Budrigannews.com – This week on The Market Report, the resident experts discuss recent outages and the fear, uncertainty, and doubt (FUD) surrounding Binance, a well-known cryptocurrency exchange.
We’ll start with the top stories from this week. Following the collapse of FTX, Forbes wrote about the Binance cryptocurrency exchange’s recent “shuffling” of funds. However, on February 28, Binance co-founder and CEO Changpeng “CZ” Zhao responded via Twitter. Our experts respond to CZ’s remarks and discuss the specific FUD surrounding Binance. Should you be concerned if you use Binance?
Solana Labs CEO and founder Anatoly Yakovenko has refuted claims that the company’s consensus layer was clogged by its on-chain voting system and a high volume of validator messages were to blame for network outages.
The CEO responded to speculation that Solana’s decision to include on-chain votes as transactions is a “massive design flaw” that has led to its numerous outages, despite the fact that the Solana Foundation confirmed in a post on Feb. 27 that the “root cause” of the recent 20-hour network outage is still unclear.
We go into great detail about the reasons why Solana has had so many problems in the past and continues to have them. Additionally, we examine some of the crypto community’s responses to the recent network outage.
The head of the securities regulator in the United States claimed in a recent interview that every cryptocurrency except Bitcoin (BTC) is a security that is under its jurisdiction. Cryptocurrency lawyers have refuted this claim.
Securities and Exchange Commission Chair Gary Gensler claimed that “everything other than Bitcoin” falls under the agency’s purview in a comprehensive interview with New York Magazine on Feb. 23. Gensler may claim authority over the crypto industry, but his opinion is not the law, which is good news for him and bad news for the rest of us. Regarding the remarks made by Gensler, our experts provide you with their independent opinions.
Tune in to learn about the most recent developments in the cryptosphere from our experts, who cover these and other emerging stories.
