Changpeng Zhao (CZ), CEO of Binance, says that there is a crypto exchange that may be employing poor standards in its trading platform.
CZ tells his 6.8 million Twitter followers that he recently learned the term “jitters,” which refers to a lag on trading platforms between when an order is placed and when it is executed.
Sometimes, while an order is delayed, other orders are able to jump the queue and front-run them, though it’s not clear whether this is intentional or not.
“Just learned a new word, jitters. On one particular exchange, sometimes your orders will be stuck for a bit, and a few other orders will get in front of you. Apparently, this happens often enough on this exchange that the traders coined a term for it, jitters. (Front running)
I then asked a few VIP traders, they all knew. You can’t hide bad behavior.”
According to CZ, the phenomenon is well known, but the crypto billionaire didn’t specify which exchange is guilty of it.
“All of you guys knew and didn’t say anything. We need to fight the bad players.”
Earlier this month, CZ said that the current bear market is currently presenting some the best opportunities that crypto bulls can find. The CEO highlighted how Binance’s investments during last bear market turned out “fantastically well” just four years later.
“This is really the best time to invest in the industry. We did this four years ago during the bottom of the bear market, the last cycle. It worked out fantastically well.
We invested a couple of a hundred million dollars… and now our portfolio is [worth] $7 billion. So it’s one of the best performing funds ever, I think.”
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