Elon Musk berates Binance CEO on dogecoin glitch


Tesla founder Elon Musk on Tuesday chided Binance Chief Executive Changpeng Zhao on Twitter after the cryptocurrency exchange limited withdrawals of meme-based digital currency dogecoin.

“Hey @cz_binance, what’s going on with your doge customers? Sounds shady,” Musk tweeted on Tuesday.

Binance responded saying it is rebuilding its dogecoin wallet entirely, resulting in a delay in withdrawals that may continue for another week.

Binance, one of the largest cryptocurrency exchanges by trading volumes, has come under scrutiny from regulators, according to reports.

Global regulators worry the rise in privately operated currencies could undermine their control of the financial and monetary systems, increase systemic risks, promote financial crime and hurt investors.