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.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
