Binance CEO Speaks out on Steemit Debacle

  • The CEO of Binance said in an interview that Tron CEO Justin Sun should have polled the community before making a move on Steemit.

  • Sun had enlisted the help of exchanges, including Binance and Huobi, who've since withdrawn their support.

Binance CEO Changpeng Zhao attempted to quell concerns that he helped Justin Sun, CEO of TRON, stage a coup of the Steemit blockchain network, according to reports today.

"Our relationship with Justin Sun is the same as with any other project listed on Binance. There are no equity holdings or investments of any kind between us," Zhao told CoinTelegraph, according to an unedited version of the transcript he tweeted. " I wouldn’t even say I have much of a personal relationship with him outside of work," he added.

Binance CEO Speaks out on Steemit Debacle

The Sun-Steemit saga thus far

Zhao's comments were designed to address fears that his company helped Sun stage a hostile takeover of the Steem network, following a vote by the Steem community to temporarily prevent Sun from accessing some of his money.

Sun had recently bought Steemit, a decentralized social network that sits atop the Steem blockchain. With his purchase, Sun was also entitled to around $12 million worth of pre-mined tokens on the network. Read More...