In a live stream that took place the other day, the Binance’s CZ confirmed his earlier announcement of launching loans between investors and margin traders. The interest back to lenders is to be paid in Binance Coin.
Binance promises BNB loans for margin trading that kicked off earlier
Previously, CryptoComes wrote that Binance had initiated margin trading with its native BNB token. This was just the first step in the new curve of current Binance expansion.
In a live stream last week, Changpeng Zhao confirmed that later in August the platform would allow investors to lend each other funds for margin trading, reclaiming their interest in BNB.
Check out the live stream from the @binanceje x #Binance Meetup in London🇬🇧! Keep your eyes peeled for @cz_binance 👀https://t.co/4J2hWIU7X8— Binance.je (@BinanceJE) August 1, 2019
The community’s reaction
The Binance crypto community demonstrated very different responses to the news. While some were praising the CEO of the exchange for another step forward in improving the crypto industry and taking it to a new level, others started accusing Binance of corruption regarding selecting projects for its IEOs.
I would like to hear about IEO and why they are all in free fall, how did you select the projects? Corruption?— Deep Forest (@DeepFor45850527) August 1, 2019
Other accusations were regarding CZ’s ‘criminal partner Justin Sun’, Binance lying about its charity programs and BNB token burns.
The sheaps are lisen to the Lyon 😂 why nobody ask him real questions like why he manipulate the price why his criminal partener @justinsuntron is not there,why the bnb from charty program are not going to childrens,why he lie about bnb burn coin— isamalia (@isamalia1) August 1, 2019
The comments posted on Reddit were also far from supportive, let along encouraging.
As a reminder, when Binance conducted its first IEO of BitTorrent on its LaunchPad, numerous investors were unable to by BTT over what Binance later explained to be technical issues. A lot of people started accusing Binance and Tron of teaming up for scamming the community.
Current BNB market stance
At press time, Binance Coin is ranked 6 on CoinMarketCap, trading at $28.18. Over the last 24 hours, the coin is showing a 2.20-percent spike.