Changpeng Zhao: the situation with fake volume a bit out of control


In your recent message, Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange, spoke about the situation with fake reports about the volumes of trading on the individual exchanges. On his page in Twitter, he not only commented on the problem, but also added the image, which indicates that Binance is the eighth-largest cryptocurrency exchange in terms of trading.

This is getting a little out of hand. The exchanges above fail to realize:

CREDIBILITY is the most important asset for any exchange!

If an exchange fakes their volumes, would you trust them with your funds?

— CZ Binance (@cz_binance) April 6, 2019

Although most users know that Binance is probably the largest and most widely used exchange in the world, but in terms of trading volume it occupies only 8-e a place.

Counterfeiting the volume of exchange cause yourself harm.

In his comments, Changpeng Zhao said:

“It’s a little out of control. Exchange, mentioned above, apparently do not understand: creditworthiness is the most important asset for any market! If the market forges its volume, would you trust her with your money?”

Head Binance, commenting on the situation stressed that we have to earn the trust of customers, showing real successes in the industry, saying that “we need to let them know that they do cause themselves harm.”

In accordance with the data some of the lesser-known exchanges, showed high levels of volume, ahead of Binance. Among them CoinBene, Coineal, HitBTC and OOOBTC, sales amounted to more than $500 million in the last 24 hours compared to Binance.

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Tags: Binance


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