Another day, another fight, on Twitter. Tesla CEO Elon Musk, who has supported Dogecoin, tagged Binance CEO Changpeng Zhao (CZ) and tweeted Tuesday that “what’s going on with your Doge customers? Sounds shady,” after a technical glitch appeared to occur during a recent upgrade of the Dogecoin network.
Fast facts
- A network upgrade of Dogecoin has appeared to cause withdrawal issues for some Binance users earlier this month, and Binance on Nov. 11 said in a statement that it expects the DOGE network withdrawals to be suspended for the next 10 to 14 days from Nov. 15. “We have written directly via email to the very small number of users directly impacted by the update where previously failed DOGE withdrawal transactions got resent,” Binance said in the statement, adding that it is also requesting these users to return the assets.
- Prompted by Musk’s tweet, Binance’s official account fired back by tweeting that there’s nothing shady, but “just frustrating and we’re working on it.”
- CZ also tweeted to Elon that the team is “pretty certain it is an issue with the latest #doge wallet,” and specifically pointing to an article from the Guardian that reported on the Tesla software glitch in October that led to safety recalls for 12,000 vehicles. A few hours later, CZ went on to say that he overreacted a bit.
- Binance — the largest cryptocurrency exchange in the world — has been making attempts to bolster its compliance with regulators around the world. Reuters reported in October that Binance is looking at setting up regional headquarters in Ireland, while “pro-crypto” Dubai could also beckon as CZ has bought his first home last month in the city, according to Bloomberg.