0
0
Crypto Drama: Binance supporting LUNC price development
Something in the crypto world is getting more and more attention and it’s pretty interesting.
LUNA & TerraUST collapsed a couple months ago. Billions were lost.
Since then Do Kwon is on a run trying to escape legal actions. However, some lunatics are still optimistic about a recovery.
So CZ stepped in and suggest adding a 1.2% tax on LUNC trading as a burn mechanism. It sounds like he’s against it at the same time with good reasoning. Whales won’t trade with such tax. link
And now the drama starts: is this centralized manipulation by the biggest exchange ? Is it actually decentralized because it supports the users since they can vote for it ?
Meanwhile South Korea issued an arrest warrant for Do Kwon and users would probably move funds to a different exchange avoiding the Tax while still benefitting from the burn mechanism.
Right now LUNC is down -53% in 2 weeks after recent rally.
I personally think this is a huge mess and a biased decision of CZ / Binance to even jump into the topic. I stay away from LUNC / LUNA2 in general and I think major crypto names should do the same. At least until legal actions are solved.
Thoughts ?
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
0
0
