This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana had to say about recent outages.
We kick things off with this week’s top stories
Binance CEO responds to Forbes claims: ‘They don’t know how an exchange works’
In the aftermath of the FTX collapse, Forbes published an article focused on the recent “shuffling” of funds by the Binance cryptocurrency exchange. However, the following day on Feb. 28, Binance co-founder and CEO Changpeng “CZ” Zhao took to Twitter to respond. Our experts weigh in on what CZ had to say and also what exactly the FUD surrounding Binance was. If you are a Binance user, should you be worried?
Solana CEO hoses down claims network outages caused by on-chain voting
Anatoly Yakovenko, founder and CEO of Solana Labs, has denied claims that Solana’s network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer. While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the recent 20-hour network outage is still unclear, the CEO responded to speculation that Solana’s decision to include on-chain votes as transactions is a “massive design flaw” that has led to its many outages. We take a deep dive into why Solana has had so many issues in the past and continues to do so. We also take a look at some of the responses from the crypto community regarding the recent outage of the network.
Crypto lawyers flame Gensler over claims that all crypto are securities
Cryptocurrency lawyers have rebuffed comments made by the head of the United States securities regulator, who claimed in a recent interview that every cryptocurrency except Bitcoin (BTC) is a security that falls under its jurisdiction. In a wide-ranging Feb. 23 New York Magazine interview discussing crypto, Securities and Exchange Commission Chair Gary Gensler claimed “everything other than Bitcoin” falls under the agency’s remit. Gensler may claim command over the crypto sector, but unfortunately for him and fortunately for the rest of us, his opinion is not the law. Our experts give you their unbiased opinions about the comments made by Gensler.
Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the world of crypto.
Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week, so make sure to tune in to find out which ones made the cut.
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