Musk and Binance CEO Clash Over Dogecoin

▲Elon Musk, CEO of Tesla [Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jaehee] Elon Musk, CEO of Tesla, engaged in a heated exchange with Zhao Changpeng, CEO of Binance, the world's largest cryptocurrency exchange, over Dogecoin.

On the 23rd (local time), Musk shared an article about Binance recently restricting withdrawals for Dogecoin holders and reportedly seeking investments from sovereign wealth funds of various countries, tweeting at Zhao, "What is happening to your Doge customers? Sounds suspicious."

Earlier, on the 10th, Binance announced that withdrawal issues appeared to have arisen due to an upgrade of the Dogecoin network. They stated that only a very small number of customers were affected, that they are cooperating with the Dogecoin network, but since the exchange needs to rebuild the digital wallet that holds the coins, the recovery time is longer than usual.

In response to Musk's tweet, Binance's official account explained the situation in detail, saying, "It's not suspicious, just frustrating and we are working on it." They clarified that the withdrawal issues were caused by technical problems during the network upgrade.

Musk reiterated, "Dogecoin holders using Binance should be protected from errors that are not their fault."

Then Zhao countered by sharing a link to an article about Tesla recalling about 12,000 vehicles due to a software defect.

Zhao said regarding the Dogecoin issue, "We are communicating with developers. Sorry for the inconvenience," and then asked, "What happened with this (Tesla recall)?"

Musk replied, "I don't use Binance, so I personally have no inconvenience. I just raised this issue on behalf of other Dogecoin holders."

Following this, Zhao said, "Thank you. I may have overreacted because of the word 'suspicious,'" and explained the sign-up process. Musk responded, "Alright," ending the exchange.

This content was produced with the assistance of AI translation services.