Binance CEO “CZ” has asked his investigation team to look into allegations by Terra insider FatMan against Terraform Labs founder Do Kwon and Terra. Binance’s CEO had always opposed the idea behind UST algorithmic stablecoin and Do Kwon’s plan for revival of UST and LUNA tokens. Moreover, BINANCE has taken a cautious approach in listing the new LUNA token. The exchange listed the token under the “innovation zone,” a place for high-risk tokens.
Binance Investigates Allegations Against Do Kwon and Terra
Binance’s CEO “CZ” in an interview with Fortune on June 1 about Binance’s support of Terra 2.0 said he has been reading FatMan’s tweets against Do Kwon and Terra. In fact, he has asked his investigative team to investigate each of the allegations raised by FatMan against Do Kwon and Terra.
FatMan claimed that Terra manipulated markets, paying exchanges and third parties making people lose billions, insider trading, tokenomics adjustments, hiding financial data in Kernal Labs’cloud storage, and evading taxes. He has also criticized Terra for not compensating losses of small investors and people who lost money in UST stablecoin during the crash.
According to “CZ,” Binance has always worked with enforcement agencies helping uncover scams and frauds. The exchange will look at the available data and explore blockchain data to collect evidence related to allegations.
“Look, based on the data that we have, if we can draw any conclusions, we should share that with law enforcement.” To date, we cannot confirm or deny any of the allegations.”
