Binance CEO Caught “Jumping the Gun” In Quick Coin Blacklisting Decision

CEO of Binance Caught “Jumping the Gun” In Quick Decision to Blacklist a Coin

If you’re involved in the cryptocurrency industry, you’re familiar with Changpeng Zhao, who is the CEO of Binance. He’s a fair and relatively relaxed man, but he is also quick to act when someone acts against him. Unfortunately, that was the case with an interaction involving a project called XinFin (XDC).

This project was caught in the act, creating a false Binance listing in an effort to encourage consumers to spend more and move the price up. However, Zhao was having none of this, immediately calling out the team for their actions. Right after, he banned them from ever having a listing on the exchange. He posted,

“What a shame! The fastest way to get blacklisted. Won't see this coin on Binance.”

Even though the decision may have been fully justified in Zhao’s mind, he admitted later that day that this decision was a bad one. After speaking with a colleague, he posted instead,

“Need to apologize here. Jumped the gun. This will not decrease or improve their chances of listing. Still fair review. The publicity probably helps them more than it hurts. Apologies regardless.”

This is a perfect example of how quickly things can escalate when words are misconstrued. Still, it tells a more important lesson – don’t cross Changpeng Zhao.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,471FansLike
2,795FollowersFollow
4,195FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today