Binance has launched its first crypto advertisement in the Financial Times, one of Europe’s most important economic and financial newspapers.
Binance, the ad in the Financial Times
Changpeng Zhao aka CZ, CEO of Binance, shares the event on the social network of crypto-lovers Twitter:
“Our first ad ever, on Financial Times”.
Binance’s ad in the British economic and financial newspaper features a huge headline that reads: “Crypto is evil“. A provocative phrase with which the world’s largest crypto-exchange by market volume tackles the headline dilemma.
“When it comes to crypto, don’t the headlines fool you”.
The first paragraph of the ad outlines Binance’s thoughts on the opportunities that cryptocurrencies offer compared to other financial assets, appealing to anyone and not just a privileged few.
Yet despite claiming that crypto assets belong to the masses, the crypto-exchange also says it is a strong advocate for a more regulated cryptocurrency market, so that it can accommodate the “next billions of users”.
Binance and the 10 basic rights for cryptocurrency users
Binance’s ad in the Financial Times then also lists what have been defined by the crypto-exchange itself as the 10 fundamental rights for cryptocurrency users.
In general, the topics addressed by the list speak of “free access” to assets, user privacy, accountability of industry participants, smart regulation that encourages innovation instead of restricting it, and more.
At the same time, the Twitter account Muffin_V.1.14.5 commented on CZ‘s tweet by dwelling on one of these 10 exposed rules, which states:
“Crypto investors have the right to access exchanges that keep their funds secure, in safe custody with comprehensive deposit insurance.”
You following your own rules? pic.twitter.com/5E8M4C8vRI
— Muffin_V. 1.14.5 (@JustinScerini) November 16, 2021
“You following your own rules?”
The suspension of DOGE withdrawals
The Twitter account Muffin_v.1.14.5, which in its description appears to be a follower of Dogecoin (DOGE), is clearly against Binance’s actions.
It is no coincidence that, as of yesterday, withdrawals in DOGE have been suspended on Binance for 2 weeks, i.e. until the end of November 2021, sparking discontent among users.
The reason for this net decision on the part of the crypto-exchange, is due to the complex nature of a problem already present on Binance’s DOGE network, which has also been exacerbated by the 1.14.5 update to Dogecoin’s Core which reduced transaction fees.