The #BoycottBinance hashtag is trending on every crypto user’s Twitter feeds. And the reason it is booming higher is the LUNC community’s anger toward Changpeng Zhao, the CEO of Binance.
The Terra Classic team introduce a burn mechanism. In doing so, the ecosystem wants to permanently remove 1.2% of all LUNC transactions from the active supply.
CZ supported the change, but in a recently asked AMA on twitter, he recommended that Binance should begin taxing “opt-in traders” 25% after the consensus of LUNC investors.
YouTube crypto king shared a video talking about how to boycott Binance. Some users also showed screenshots of their high withdrawal fee and how it traps tokens on the exchange.
Traders suffer from Terra Classic FUD
The ongoing FUD created trouble for spot LUNC traders as the token’s price entered a free fall since CZ’s AMA on Sep. 23.