Binance CEO Changpeng Zhao reveals bad trading behavior plaguing one crypto exchange
Changpeng Zhao (CZ), CEO of Binance, says it is a crypto exchange that may have poor standards in its trading platform.
CZ says his 6.8 million Twitter followers that he recently learned the term “jitters,” which refers to a lag on trading platforms between when an order is placed and when it is executed.
Sometimes, while an order is delayed, other orders can jump the queue and run ahead of them, although it is not clear if this is intentional or not.
“Just learned a new word, jitters. On a particular exchange, sometimes your orders will be stuck for a while and a few other orders will come before you. Apparently this happens often enough on this exchange that traders coined a term for it, jitters. (Previous)
I then asked a few VIP traders, they all knew. You can’t hide bad behavior.”
According to CZ, the phenomenon is well known, but the crypto billionaire not specified which exchange is guilty of it.
“All of you knew and said nothing. We have to fight against the bad players.”
Earlier this month, CZ said that the current bear market currently presents some of the best opportunities that crypto bulls can find. The CEO highlighted how Binance’s investments during the last bear market turned out “amazingly well” just four years later.
“This is really the best time to invest in the industry. We did this four years ago during the bottom of the bear market, the last cycle. It worked amazingly well.
We invested a couple of hundred million dollars… and now our portfolio is [worth] 7 billion dollars. So it’s one of the best funds ever, I think.”
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