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Binance Finally Resumes Dogecoin Deposit and Withdrawals 

Following several days of uncertainty for DOGE holders, popular crypto exchange Binance, has finally announced the resumption of deposit and withdrawals after the exchange froze the functionality owing to system malfunction. A recent bug was carried out on the DOGE wallet, but shortly after, it malfunctioned leading to the execution of year-old transactions stuck on the platform because of low transaction fees

On November 23, Binance disclosed that it was building a new Dogecoin wallet from scratch following the glitch that kickstarted a heavy controversy for the platform. However, the CEO revealed that it could take up to a week to complete it. 

Binance Brands Incidence “Unfortunate” 

Binance released a blog post stating the issue could happen with the upgrade. The platform had upgraded the wallet three times starting from 2019 and Zhao points out that the issue wasn’t shady after as some people claim – he was referring to Elon Musk’s statement about Binance being shady over alleged threat to the meme coin users. 

He said it was an unfortunate coincidence for Binance, Dogecoin network, and the Dogecoin community, claiming there was no way they would be able to plan for something like that. Following its alleged threat to Dogecoin, the exchange was called out by a few for its manhandling of the situation. 

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Binance and Musk’s Twitter Spat 

DOGE holders disclosed that they received emails from the world’s largest exchange, asking them to return the coins, which the holders said they were oblivious of. Binance proceeded to suspend and freeze withdrawals of the users involved. 

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The threat from the exchange led to a mini war between DOGE cheerleader Elon Musk and Binance CEO on Twitter, with the Tesla CEO, accusing Binance of treating its Dogecoin customers unfairly for an error caused by the exchange. Binance CEO Changpeng Zhao, then clapped back at Musk by responding to Musk’s tweet with a caption from The Guardian about Musk’s recall of 12,000 vehicles caused by a slight communication glitch. 

The two have since resolved the issue, with Musk claiming to be pointing out the issue to the Binance top executive. However, the Dogecoin enthusiast has warned users to be wary of centralized exchanges. 

Binance has been on the negative side of the news for the most part of 2021. The exchange has been allegedly found violating several regulatory protocols across countries, such as Singapore and the United States. 

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In the United States, the crypto company was found wanting for allegedly laundering money and tax evasion. In September, Singaporean authorities suspended Binance operations for trading irregularities. 

The hit from the MAS led to Binance suspending trading tools, such as spot trading, transacting cryptocurrency using fiat, etc. Binance later confirmed that it would cooperate with Regulated Payment Services to ensure that it complied with Singaporean regulators. 


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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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