Binance CEO CZ Claims He Has Never Spoken With Terra Founder

Binance CEO, CZ, discussed Terra’s rebranding in a recent interview with Fortune. He also stated that he had never spoken directly with Do Kwon. For the past month, Terra‘s demise has been the hottest topic.

The devastating collapse shattered the community’s faith in LUNA. On May 27, LUNA 2.0 was released, following several restoration plans. However, leading cryptocurrency exchanges such as Binance have come under fire for assisting Do Kwon in rebranding Terra and backing his rebirth plan.

Binance was one of the first exchanges to support the LUNA 2.0 airdrop, and the exchange has already distributed 30% of the airdrop.

CZ claimed that despite Binance’s investment in Terra, he and Do Kwon did not speak.

“I did not speak to him. Our investment team did all the talking with him. We have a very quick internal review process, which I’m part of, but I didn’t have to talk to him. Throughout this incident, our team talked to him.”

Binance’s CEO said that Do Kwon was very slow in responding and communicating. He said that even though Binance is one of the largest liquidity providers for Do Kwon, he was pretty slow, unlike other projects, which were quick in response.

Do Kwon, according to Binance’s CEO, was slow to reply and communicate. He claimed that, despite Binance being one of the main liquidity providers for Do Kwon, he was slow to respond, compared to other projects.

In the interview, CZ stated that whatever happened to the Terra ecosystem was a catastrophe. Many users, values, and cash vanished in the aftermath of the calamity. He believes that the Terra crew took too long to reply after UST lost their peg. Perhaps things might have turned out differently if the team had been able to revive the peg with its reserves sooner.

CZ feels that the situation has made people more cautious, and that crypto and stablecoins are now being scrutinized more thoroughly.

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