Main navigation

Elon Musk Calls Out Binance CEO for Dogecoin, Coin Spikes by 5%

News
Tue, 11/23/2021 - 11:16
article image
Arman Shirinyan
Elon Musk calls out biggest exchange CEO for problems with Dogecoin withdrawals
Elon Musk Calls Out Binance CEO for Dogecoin, Coin Spikes by 5%
Cover image via www.youtube.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

In his most recent tweet, Elon Musk stood up for the Dogecoin community and called out Binance centralized exchange CEO Changpeng Zhao, asking about the Doge situation.

Binance withdrawal issues

Musk's tweet is most likely tied to the most recent problems that Doge users had with Binance that limited the withdrawal of the meme-based cryptocurrency, demanding a refund of some of the funds.

The issue was most likely tied to the fact that some transactions on the exchange happened due to the update of the Dogecoin core, which led to some transactions being stuck in the blockchain.

The Dogecoin community is still facing problems with withdrawals on the exchange after more than a week of this problem.

Musk's Dogecoin "wisdom"

Elon Musk is a famous Dogecoin supporter who has expressed his thoughts and feelings toward the coin's future. Previously, he supported a user who suggested the Dogecoin community withdraw their crypto from lending programs, not use exchanges as wallets and hold funds only in private wallets.

Earlier this year, Musk suggested lowering Dogecoin fees to make the network more sufficient and reliable as a payments network that can be used for day-to-day needs. The billionaire also believes that more decentralization will allow both the Doge and Dogecoin communities to evolve further.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.