Elon Musk Criticizes Binance for Dogecoin Wallet Limits

Elon Musk, the CEO and Founder of Tesla, criticized Binance, a major cryptocurrency exchange, by addressing its CEO Changpeng Zhao ‘CZ’ about the limits imposed on withdrawals of Dogecoin (DOGE) wallets. “Hey @cz_binance, what’s going on with your doge customers? Sounds shady,” Musk tweeted via his personal Twitter handle. The issue happened because Binance argued that it is restructuring its meme-inspired coin wallet, which resulted in delays in withdrawals. In fact, the exchange warned that delays could persist at least for one more week. The exchange has not provided more details or an exact time when these withdrawal limits will be removed.

Binance Prices’ Flash Crash Suffered in Binance Due to a Glitch

The exchange faced a glitch last month when hours after Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term suffered a flash crash to $8,200. Binance officially confirmed that the incident happened because of a bug in the trading algorithm of one of its clients. “One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” the exchange wrote in an email to many media houses. “We are continuing to look into the event but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.” The flash crash happened on Binance’s US affiliate, Binance.US, precisely at 7.34 am New York time, according to the exchange. The effects of the plunge were seen on other crypto exchanges as the price of Bitcoin on rival Kraken sank to $54,000 momentarily before quickly recovering. Coincidently, the flash crash on Binance.US happened after Changpeng Zhao, the Founder and CEO of Binance, recently warned investors about possible high crypto Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the coming months. Though, flash crashes on the crypto market, or other trading markets, are not a new phenomenon. Several other top crypto exchanges have suffered such incidents, mostly due to platform glitches.