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.