CryptoCurrency Binance CEO Urges 'Unjustly Impacted' Users to Contact the...

Binance CEO Urges ‘Unjustly Impacted’ Users to Contact the Exchange

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Changpeng Zhao. Source: A video screenshot

After a week filled with a range of technical problems and efficiency concerns on Binance, CEO Changpeng (“CZ”) Zhao has actually brought out an upgrade to users where he welcomes afflicted traders to follow up with the exchange while confessing that more concerns might develop in the future.

In the “Performance Incident Report,” released on Binance’s blog site, the CEO confessed that it had actually been “a tough week” for both his user and engineers, which the exchange had actually experienced “a number of performance issues, which negatively impacted the accessibility of our platform.”

According to CZ, the main factor for the issues is that there are “a lot more users” active in the crypto market now, compared to the other times when bitcoin was over USD 10,000 in 2017/2018 and2019 This is a sign of a “strong recovery” for the crypto market, the CEO likewise acknowledged that it “puts on significant load” for the exchange’s systems.

“I won’t be able to guarantee all smooth sailing from here,” he even more stated, while including “We are bound to run into issues in the future as well, and we are confident we will solve them quickly.”

Surprisingly, nevertheless, the CEO likewise hinted that the door may be open for conversations over some type of a payment for particular users, stating: “If you feel you were unfairly affected by the issues that recently occurred on Binance.com, please submit a support ticket here in as much detail as possible and the team will review it ASAP.”

@METElmo Invite to life boy

— The Infamous BNB (@TheNotoriousBNB)

Evaluating from trading volumes reported by Binance, a dip can be seen from February 13 up until February 18, with the everyday volume reducing from USD 3.28 billion to USD 2.49 billion.

Trading volume on Binance:

Source: coinpaprika.com

As reported, Binance is not the just crypto company experiencing problems with a greater variety of users. In addition, hardware wallet maker Journal is likewise having a hard time to stay up to date with the quickly increasing interest in crypto, stating users need to anticipate longer wait times for their assistance tickets due to “a strong increase of requests at the Ledger Support team.”

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