fxs_header_sponsor_anchor

Confusion surrounding a protest outside Binance HQ

There are mixed reports of a protest in Shanghai, China about a protest outside the Binance headquarters.

According to a report by Wu Sai Blockchain, the protesters were stopped by security guards but took photos in front of the building.

A Binance delegate told Decrypt, “This looks like a paid article from a competitor.” The exchange still maintains that it doesn’t have an office in China, and that it operates through a global, decentralized structure.

One protestor told Wu Sai Blockchain that there are several issues that are of concern. These include money lost in initial exchange offerings which were initialised by Binance and customers being unable to close trading positions and the issue of FTX leverage tokens.

FTX are tokens which are used to add leverage to trading crypto assets but if users are not able to understand how they work they can make trading riskier. When the Crypto price crashed to 5900.00 on 12th March, many users lost money and blamed the company for not explaining how to use the tokens correctly. 

It is still not confirmed if the protest is real but there are some sketchy reports from twitter showing people outside the building but it is hard to verify the date the pictures were taken and if they are real. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.