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Binance CEO CZ to support Terra community but expects more transparency

Cryptocurrency May 15, 2022 08:40AM ET
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Binance CEO CZ to support Terra community but expects more transparency

Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, recently questioned the idea of hard forking the Terra blockchain as a means to revive the once-thriving LUNA and UST ecosystems. Following up on the same, CZ revealed his perspective on the appropriate course of action for falling projects across the crypto community.

“This won’t work,” said CZ while dismissing the validators’ idea of a hard forking to TERRA2, which would involve providing a new version of LUNA to all holders based on a snapshot of the holdings before the market collapsed. CZ suggested:

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Binance CEO CZ to support Terra community but expects more transparency
 

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Comments (2)
Nick Trader MIT
NickTraderMIT May 15, 2022 10:30AM ET
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CZ is right the fork won’t help. They should use the reserve to buy back LUNA and burn them.
Sidney Glover
Sidney Glover May 15, 2022 9:23AM ET
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so one guy can decide what to do? sp how is this decentralized and transparent? one scam propping up another? really 15000 tokens and people not seeing the scam ?
 
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