Binance CEO is in a war against “Dogecoin CEO” Elon Musk, over the Dogecoin wallet and withdrawal issues. Changpeng Zhao (CZ) is reportedly about to close the investment deal with sovereign funds, and the headquarters plan.
Elon Musk, the world’s biggest crypto influencer, blamed Binance on Twitter for suspending Dogecoin‘s withdrawal service: “What’s going on with your Doge customers? Sounds shady.” In response, Binance explained that because of the recent upgrade of the Dogecoin wallet. Binance encountered technical issues during the process, therefore, the exchange would take 1 week rebuilding the Dogecoin wallet.
Yet, Musk continued to attack Binance, claiming the Dogecoin wallet update started as early as 1 year ago. And, Dogecoin holders using Binance should be protected from errors that are not their fault. Then, CZ jumped in, with news about Tesla’s previous software glitch.
“I don’t use Binance – tried at one point, but sign-up was too many hoops to jump through,” replied Musk. “So no inconvenience to me personally. Just raising this issue on behalf of other Doge holders.”
Musk’s battle against Changpeng Zhao — the Twitter battle between two of the richest people in the world, has been a huge saga in the crypto community.
Binance Plans for HQ in Ireland, Receives Nations’ Backing?
Regarding the saga, veteran crypto investor Hsaka suggests it may relate to Binance’s recent fundraising progress: “Did CZ not allow Elon on the upcoming Binance round cap table?”
Lately, CZ revealed that the world’s largest crypto exchange is having discussions with sovereign wealth funds for investment. This is part of Binance’s plan to solve the regulatory pressure. Meanwhile, Binance is preparing for the U.S. listing of its Binance.US business.
Additionally, CZ is seeking to set up Binance’s headquarters to solve the compliance issue. Earlier, CZ said he was considering registering Binance’s global headquarters in Ireland. On the other hand, CZ mentioned this month that he intends to set up a Binance office in France.
“CZ is kinda shooting back a lot these days,” said Hsaka on Twitter, “guess the funding round has been secured.” However, Larry Cermak, The Block’s research director, doubts it. “CZ is figuring out which jurisdiction to relocate Binance to, which I assume will end up being Dubai,” tweeted Cermak. “Until then and until he finds a replacement CEO don’t think they secure any funding.”
Binance CEO Changpeng Zhao is all over the news lately. Last week, CZ announced he plans to donate 99% of his personal wealth in the future. Previously, CZ revealed a personal wealth of $2 billion, most of it in Binance Coin (BNB). But, as the largest shareholder of Binance – with a $300 billion valuation, Changpeng Zhao’s real net worth is likely over $200 billion.
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