Binance, the world’s leading cryptocurrency exchange, has announced updates to its fee structure and zero-fee Bitcoin trading pairs. These changes come amidst recent events that have impacted the cryptocurrency market. In this article, we’ll take a closer look at what these updates mean for Binance users and the impact of Binance CEO’s comments on DeFi credit protocol TrueFi’s $TRU.
Binance’s Fee Structure Update
On March 12, 2023, Binance announced updates to its fee structure for popular trading pairs. The exchange has introduced 0% maker and taker fees for BTC/TUSD trading pairs, replacing the previous zero-fee trading pair of BTC/BUSD. This change was made in response to recent events and market fluctuations.
Binance CEO’s Comments on TrueFi’s $TRU
In a tweet on March 13, 2023, Binance CEO Changpeng Zhao (CZ) commented on DeFi credit protocol TrueFi’s $TRU, stating that he was “not impressed” with the project’s recent performance. This comment caused a decline in the value of $TRU, which dropped by 15% in just a few hours.
CZ’s comment on $TRU has sparked a debate among the cryptocurrency community. Some users have criticized CZ for his comments, stating that it is not the role of the exchange CEO to publicly criticize projects. Others have defended CZ, arguing that he is entitled to express his opinion on any project.
Impact of Updates and Comments
Binance’s fee structure update for BTC/TUSD trading pairs has been welcomed by users, who see this as a positive move from the exchange. The introduction of zero fees for this trading pair is expected to attract more users to Binance and increase trading volume.
However, CZ’s comments on $TRU have had a negative impact on the project’s value, which has declined by 15%. This incident has once again highlighted the influence of social media on cryptocurrency markets and the power of public figures to influence market sentiment.
Binance’s updates to its fee structure and zero-fee Bitcoin trading pairs are a response to recent events in the cryptocurrency market. While the changes have been well-received by users, CZ’s comments on $TRU have sparked a debate within the cryptocurrency community. It remains to be seen how this incident will impact the reputation of Binance and its CEO in the long term.