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Binance reopens trading of UST and LUNA

Binance reopens trading of UST and LUNA


Cryptocoins Exchanges / Binance 8 Views

Binance announced that it resumed spot trading of LUNA and UST against its own binance USD (BUSD) stablecoin as of this Friday morning the 13th and assured that deposits and withdrawals are now open as well.

For it appears that several funds are exiting projects such as Yearn Finance, PancakeSwap and Shiryo (among other decentralized projects) have moved to re-buy terra despite its devaluation.

Hours after Binance CEO Changpeng Zhao (CZ) said that the company "prioritizes user protection" and that they "made the decision to suspend trading of LUNA and UST.", the reopening of trading in the controversial tokens became effective after the 'discovery' of the funds' movement.

Changpeng Zhao had expressed that he was "very disappointed with the way this UST/LUNA incident was handled (or not handled) by the Terra team." And he requested his team to restore the network, burn the extra minted LUNA and retrieve the UST handle" without having received a positive response.

submitted by /u/Itzayana765
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