No single entity was at fault for the technical problem nor did the DOGE Network have prior knowledge of the "rare issue," Binance said Monday. "So rest assured, as CZ said - no one's getting fired," it said, referring to Zhao's November 24 statement saying the company was working to resolve the problem. CZ has now started paying attention to it himself and asked the Twitter team to make the fighting of bots a priority task. Recently, multiple bots impersonating the Binance chief executive have been appearing under the tweets of many major Twitter users, including cryptocurrency influencers. Musk's comment spurred a response from Zhao: "Elon, we are pretty certain it is an issue with the latest #doge wallet," he wrote and apologized for any inconvenience. Zhao wrapped up the tweet asking Musk, "What happened here?," and linked to a Guardian story earlier this month about Tesla's recall of 12,000 vehicles in the US stemming from a software glitch. Referring to Elon Musks pending case to spur on Twitter. The company was referring to Musk's tweet on November 23: "Hey what's going on with your Doge customers? Sounds shady." Binance CEO credited Tesla CEO Elon Musk with having played a role in extending Dogecoin's lifespan CZ explained the meme coin listing process on Binance. Twitter has become an arena for another cryptocurrency-related battle due to Binance experiencing ongoing issues with Dogecoin withdrawals.Tesla CEO Elon Musk, one of the world’s biggest. If we at Dogecoin Core maintainers and Binance had tried to plan this, we simply would not have been able to - not quite the shady circumstances that some had suggested," Binance said in Monday's statement. Updated with Binance's comments on the formation of an internal team.ĭavid Hollerith is a senior reporter at Yahoo Finance covering the cryptocurrency and stock markets."It was an unlikely and unfortunate coincidence for Binance, the DOGE network, and DOGE hodlers. Binance CEO Changpeng Zhao today expressed surprise that Dogecoin had not yet faded away and attributed its longevity to Tesla boss Elon Musks support. "As the world’s leading web3 infrastructure company, we’re looking forward to bringing new solutions to solve some of the issues inherent in the Web2 ecosystem," Hillman said in a statement. Patrick Hillman, Binance's chief strategy officer suggested the company's involvement could mean less speculation and more "practical use cases" for the still buzzy, yet less active, emerging asset class. Binance confirmed on Friday that it was as an equity investor in billionaire technology entrepreneur Elon Musks takeover of microblogging service Twitter (TWTR). We are in the early stages now and still figuring out a plan," the spokesperson added. "For example, how can we build on-chain solutions to address some of Twitter's issues, such as the proliferation of bot accounts in recent years. That sum is simply a blank check, CEO Changpeng Zhao told the. Started by Twitter co-founder and former CEO Jack Dorsey, who has since left the company, it remains unclear how BlueSky will fit into Twitter’s plans under Musk.įor the period, the market capitalization for DOGE has risen by $3 billion from $7.7 billion to $10.6 billion, according to Coinmarketcap.įor its part, a spokesperson for Binance told Yahoo Finance that Binance is creating a team inside the company to focus on ways cryptocurrencies and blockchain technology could be helpful to Twitter. Binance, the world's largest cryptocurrency exchange, is investing 500 million as part of Elon Musk's deal to take Twitter private. More recently, the company’s lesser known BlueSky initiative launched a website detailing plans to launch the AT Protocol, which aims to create a decentralized social network using blockchain technology. Year to date, $18 trillion worth of crypto has changed hands on Binance, accounting for 22% of global crypto trading volume, nearly quadruple that of any other crypto exchange, according to crypto indexer, Nomics.īefore the Musk deal closed, Twitter had made efforts to further incorporate crypto onto its platform by allowing users to send cryptocurrencies through their user accounts and verify NFTs as profile pictures. A new filing shows that Oracle co-founder Larry Ellison, venture capital firm Sequoia and crypto exchange platform Binance are among a cohort of investors that plan to support Elon Musk ’s 44. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)Īlongside major angel investors such as Oracle Cofounder Larry Ellison and Twitter majority stakeholder Prince Alwaleed bin Talal of Saudi Arabia, Binance’s support had previously been disclosed as far back as May. CHINA - 5: In this photo illustration, the cryptocurrency exchange trading platform Binance logo is displayed on a smartphone screen.
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