Binance justifies listing controversial SUSHI token

Binance justifies listing controversial SUSHI token
CONTENT

  • Binance has no regrets on the SUSHI listing

  • Changpeng Zhao explained that everyone is for himself

  • Cryptocurrency exchange plunges into DeFi

Binance justifies listing controversial SUSHI token

International consortium of news organizations developing transparency standards.

The head of the cryptocurrency exchange explained that who does not take risks, he does not earn, and will never become famous as an innovator

Users of the Binance cryptocurrency exchange attacked the platform for listing the token of the scandalous SushiSwap project after its value collapsed by 50%, and the creator was accused of an exit scam. However, Binance is confident that it is doing the right thing to support risky projects..

Every man for himself

Exchange CEO Changpeng Zhao, also known as CZ, explains why the platform is listing projects and tokens like SUSHI..

Binance justifies listing controversial SUSHI token

“As an industry leader, we support innovation. However, innovation is always associated not only with high profits, but also with great risk. Some projects take off to the skies, and some are not destined to get off the ground. Never forget about adequate risk management when trading. When it was crypto winter, I urged everyone not to sell. When there is a buzz in the industry, I advise you to exercise maximum caution. I am always accused when some assets become cheaper. And they will blame. It just hurts to see people start to panic, but at the same time they do not manage their risks properly. “.

SUSHI with a smell

Anonymous project developer Chef Nomi has sold all of his tokens. As a result, SUSHI dropped in price from $ 9.5 to $ 1.13 in five days. Chef Nomi later explained that he had transferred control of the protocol to the head of the FTX exchange, Sam Bankman-Fried..

Decentralized finance industry participants did not like the strategic decision of the sushi chef. And those who bought SUSHI and lost money on it accused the crypto exchanges that had listed them for adding unreliable products..

Binance justifies listing controversial SUSHI token

Binance is friends with DeFi for money

Meanwhile, Binance has been actively supporting DeFi projects for a long time. The platform has added many tokens from this segment this year. DeFi is the future, Zhao says Decentralized finance (DeFi) is financial services built on blockchain technology that offer users access to an open, efficient, and … More, although it will have to experiment and step on before it becomes widespread. rake and learn from mistakes. Earlier, the editorial staff of BeInCrypto reported that Binance earned almost $ 200 billion from the hype around DeFi. 

In addition, the exchange launched its own liquidity mining platform, joining the new trend..

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