The STEEM saga is once again on the airwaves after the latest explanation by Binance CEO, Changpeng “CZ” Zhao, raises more questions than answers on Twitter. The community is now actively involving in the conversations with some agreeing with the CEO while some dismiss the action as “irresponsible”.
Here are some of the comments on the never-ending STEEM; Binance and Huobi; and Justin Sun saga on “taking over the Steem blockchain”.
CZ Binance apologizes for mistakes
On Saturday evening, CZ wrote a thread of tweets on the ongoing STEEM saga asking the community to help him explain the issue sent out to him by Steemit.com owner and Tron Foundation, Justin Sun. He wrote,
“I was hoping not to be involved, but alas, doesn’t seem to be possible. I did approve the vote from Binance, thinking (wrongly) it was a regular upgrade/fork. For that, I apologize. Guess it is only fair that I get involved until the issue is resolved.”
Q2: Justin thinks the company has the right to use those coins, but some in the community seems to think there was a promise that those coins would never be used. What’s the history/story here? I have not seen any evidence of promise not to use those coins.
— CZ Binance ??? (@cz_binance) March 7, 2020
In a thread of tweets that followed, CZ asked the community to help him understand the code sent by Justin’s team to lock up the users’ funds. Analysts across the crypto community offered their views on the matter giving answers some lightening the severity of the issue.
Justin Sun: buys a failing company, (easily) wins a political struggle fair and square by following the rules
Shitcoin Media: BUT WHAT OF THE COMMUNITY ELECTED WITNESSES
talk about manufactured drama, seriously I can't
suddenly everyone cares about a dying shitcoin blog https://t.co/eJGco0FTl5
— Udi Wertheimer〔?½?〕 (@udiWertheimer) March 3, 2020
CZ Binance bashed as “irresponsible” after mistake
However, The Block researcher, Larry Cermak, bashed the Binance CEO as ‘irresponsible’ following his admitted mistake. He tweeted,
“A guy who preaches decentralization made a rash decision by himself for thousands of users. While also effectively blocking users’ ability to withdraw their coins. But he apologized so it’s all ok! This is troubling to say the least. Monumental f*ck up by Binance.”
He further urged CZ to be more careful when dealing with users funds – especially if not aware of what’s going on or risk to kill their holdings. He tweeted,
Maybe, judt maybe, if you don’t even know what’s going on, stop making decisions for thousands of users without their consent. And especially of those decisions effectivey make their hodings insolvent
— Larry Cermak (@lawmaster) March 7, 2020