On 21 May, Binance CEO Changpeng Zhao discussed user issues at the Ask Me Anything session. In AMA season Binance CEO states that if Binance went bankrupt, users would receive a reimbursement before stockholders. As a result, the AMA session, which covered a wide range of issues, has been removed. There is no clue why it was removed at this time. Among the topics discussed were the future of the Binance chain and how Binance handles its users’ funds.
As per Changpeng Zhao, the cash of Binance clients is never joined with the organisation’s own. Moreover, that’s what he said “The funds would be refunded to users first, before any shareholders’ ‘ on account of bankruptcy.
Binance’s choice to restart UST and LUNA exchanging despite the fact that the undertaking had fizzled was one of a few points tended to during the Q&A meeting. Changpeng Zhao, answered by saying that the decentralised world has a few trades. Financial backers would question our decision that we suspended exchange and costs rose on rival trades, he added.
Changpeng Zhao, had recently worked for Bloomberg Tradebook and the Tokyo Stock Exchange, where he acquired important experience. He introduced Binance in 2017, and it has since become one of the world’s biggest crypto trading platforms.
Numerous digital currency financial backers saw their speculations vanish following the new market emergency, including Binance pioneer Changpeng Zhao. Zhao as of late tweeted that he was “poor once more,” alluding to his deficiency of billions in crypto. A month in the wake of arriving at a high of $1.6 billion, the trade’s Luna resources had dropped to just $2,200. As per Zhao, Binance has 15 million Luna tokens, which the trade received in kind for a $3 million interest in the Terra organisation, on which Luna depends on. The Luna tokens were “never moved or sold,” he said.
