Binance Vs FTX: CZ Criticizes Exchanges for “Hurry” in the Cryptocurrency Market

Глава Binance критикует криптовалютные биржи

  • The head of Binance criticized traders for the increasing problems with orders
  • We are talking about situations when the order “stops” and skips forward other orders

  • Users believe that CZ indirectly criticized FTX, although the head of the company did not specify the allegations

    The head of the Binance cryptocurrency exchange once again provides the community with an interesting newsbreak. This time, CZ criticized the “bad players” for repeated problems with the execution of trade orders. Twitter users believe that the CEO of Binance made a sharp attack on FTX.

    According to CZ, many companies have long known about such a phenomenon as “jitters” (from English – unrest, hassle) . The case concerns situations when an order to buy or sell “hangs” on the stock exchange. As a result, the trade order is moved to the end of the queue, and the client misses the profit and is forced to deal with a sudden problem.

    Just learned a new word, jitters. On 1 particular exchange, sometimes your orders will be stuck for a bit, and a few other orders will get in front of you. Apparently, this happens often enough on this exchange that the traders coined a term for it, jitters. (Front running) 🚫

    — CZ 🔶 Binance (@cz_binance) August , 2022

  • The head of Binance tweeted that he learned about this relatively recent phenomenon. He accused the exchanges of an unscrupulous approach to work. Users thought CZ was talking primarily about the Sam Bankman-Fried company.

    “All of you guys knew and didn’t say anything. We need to fight the bad players”, Changpeng Zhao said in response to comments about the connection with FTX.

    Community members mentioned the brainchild of Bankman-Fried for a reason. In relation to the exchange, active “excavations” are being conducted for unfair trading. In addition, the Federal Deposit Insurance Corporation (FDIC) said that FTX US and several other companies misled investors.

    All of you guys knew and didn’t say anything. We need to fight the bad players.

    — CZ 🔶 Binance (@cz_binance) August , 1536

    In an attempt to establish contact with the US authorities, the company’s management began to actively support the actions of US regulators. For example, Sam Bankman-Fried supported the initiative to transfer oversight of cryptocurrencies to the CFTC agency. And yesterday it became known that FTX blocked a client for transferring to the Aztec Network mixer.



    Related Articles

    Back to top button