Changpeng Zhao, as CZ, the chief executive of top crypto exchange Binance, has issued a statement on the recent Steem hard fork that didn & # 39; t attempt to release 23.6 million STEEM tokens associated with 64 wallet addresses.

However, Binance will support the fork, indicating that they will support future benefits that will not be implemented by those who have met within the Steem community.

Steem fork attracts controversy

The last fork was demonstrably intended to protect against malicious actors in the Steem network, however, critics have accused the project of trying to support & # 39; hive hard fork advocates and & # 39; punishing owner of Steemit since February, Justin Sun.

Binance was previously criticized for directing Sun in a hostile dismissal of & # 39; former network validators via fork in & # 39; At the beginning of March, however, CZ quickly attracted support for the fork, proving that Sun and Steem were wrong about the nature of an & # 39; update & # 39 ;.

CZ issues explanations

In a statement on May 24, CZ argued with conflicting feelings on & # 39;

& # 39; We are against other people's assets on & # 39; to zero a blockchain. This goes against & # 39; the very ethos of blockchain and decentralization, & # 39; he argued.

"The fact that this can happen on a blockchain means it's too central."

Despite emphasizing that Binance does not want to support this upgrade, CZ notes that "this is a flip side."

“If we do not (technically) support it, no users can withdraw any STEEM coins. The wallet stopped syncing at a certain height, and there are no other benefits, ”he added.

We do not want to block people's funds. In this case, we should allow users to withdraw their funds, whether we are willing to support this hard fork or not.

Binance open to support extra moisture

CZ expresses sympathy to those who are not focused on the recent Steem fork, however concluded that the wider Steem will benefit from Binance that does not support the upgrade.

Binance recommends that those whose money was seized make yet another fork of Steem, and states that Binance "will probably support that."

Could Steem's actions result in a lawsuit?

On May 21, popular cryptocurrency lawyer and analyst, Andreas Antonopolous, predict Steem's move to freeze $ 6 million in user funds "will result in a class action lawsuit," adding: "The exchanges that participate in it will also be name defenders."

In 2018, OKCoin was filed by an investor to prevent him from Bitcoin Cash at its peak in & # 39; the first lawsuit in the country involving & # 39; a hard fork.


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