Binance CEO sets Hope on Crypto Market despite It falls

Binance CEO, Founder, and Crypto Billionaire Changpeng Zhao showed to the followers his belief that crypto markets undergo the same pattern almost every year
17 June 2018   605

The Binance team seems has never been worried by crypto sell-offs, otherwise known as the developers and associates behind the largest cryptocurrency exchange in the world. Binance CEO Changpeng Zhao, also known as “CZ,” has supported Binance’s belief in the overall markets and believes that this market decrease is just a phase that will overcome. On June 9, 2018 Zhao tweeted that the most recent price decline was simply a repetitive fact that the whole market seems to go through every year. The recent fall in the crypto market seems to be one of the worst in years, worrying many traders and long-term investors. Although a long-range lens, Zhao is seemingly apathetic of the significant capitalization drop.

To the old timers, it’s the same pattern every year. People seem to think BTC price was flat before this year,” the crypto billionaire stated. Just the units on the left [are] different.
Changpeng Zhao,
CEO, Binance, on Twitter 

It`s an interesting fact, that CZ’s claims are actually correct. In 2012 Bitcoin’s price reached at $35 before crashing down to the lower $4 amounts. It would take about 18 months before bitcoin would see $35 again, but once it did, its price lifted once. Consequently, we saw similar patterns of meteoric rise and shockingly devastating slides in almost every case.

Bitcoin’s price of 2012 grew to $35 before crashing back down to the lower $4
Bitcoin’s price of 2012 grew to $35 before crashing back down to the lower $4

Essentially, as price makes outstanding gains, the previous volatility can be easily ignored since the lifts and drops become smaller when looking at a graph. When the graph is analyzed microscopically, nevertheless, it is in fact nowhere near a “steady” upstream trend.

It was previously declared by Changpeng Zhao about his hopeful future of the digital asset atmosphere and excitement especially for the ICO space. Binance and its team members are not becoming victim to the skeptics and incertitude towards the prices in the market, and are really doubling down on their beliefs in the overall market through courageous investments.

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   93

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.