CRYPTO NEWS ~ BINANCE STILL DOWN ~ DAY 2

2 DAYS IN AND BINANCE IS STILL DOWN!

With me being a client of Binance, it truly pains me to even write this post for the Steemit community. For 2 days now, the world's largest cryptocurrency exchange has suspended all user accounts from trading or otherwise using their accounts. The reason, mandatory updates, as cited by Binance's CEO, Changpeng Zhao (also called CZ) on Twitter over the past two days. As of now, we are expecting operations to resume at 4:00am UTC, 11:00pm EST if I'm not mistaken. At any rate, as a faithful client, this is an incredibly frustrating experience, however, I am confident in the transparency of this company and their fast response to the situation at hand.

The most frustrating part of this is that the shut down was not announced to the millions of users of the exchange, which after the hack in Japan at the end of last month, scared the living Hell out of many of Binance's clients. Talks of a great hack, complete losses of money, that CZ has run off with our hard earned money....none of this is true, this is no more than FUD to manipulate the market to those who profit off of the misfortune and misery of others. As to be expected, everyone went nuts when the site and app went down, something which could have been avoided by spending one day to send everyone an email or putting a mandatory notice on the app and site. Lesson learned CZ?

Good news, is the market hasn't seen any extreme movements, so everyone on Binance should be fine, just pissed off. I'm fairly certain, given the transparency of the company and upkeep of the promises CZ has made on behalf of Binance, it would appear that they are on the right path to restoring functionality. Now, also take into deep consideration, before you drag Binance through the mud. YOU, as well as I, we all invested into a market we knew was volatile AND unregulated. Hopefully, everyone can see, things like this happen, but even in the event it went South real fast, who could you really be mad at? Think on that.

With the finances of millions in the palm of his hand, what happens next is entirely up to the head man in charge at Binance, CZ. One could hope, perhaps, he can see the damage he caused with such a move, unannounced, which has lost and cost millions of people tremendous amounts of money. Perhaps, all of the faithful clients to Binance and BNB will be rewarded for their losses and their continued support. Hopefully CZ practices good, ethical business and will find an effective resolution to this situation. Lord knows he can afford it according to Forbes.

I will continue to update as I go through the trenches with anyone else who uses Binance. My advice, learn to be patient and understanding of this situation. This is no Mt Gox, Tether or anything of the sort! Things like this are a mandatory part of any well oiled machine and one must maintain something if they expect it to run properly and efficiently! The thing that ruffled everyone's feathers is the fact it was unannounced. Thank you for reading and stay tuned in for more updates! Follow me @ terminallyill

Share your thoughts with me in the comments. I want to hear everyone's point of view and hear what you think about this situation. Are you directly affected by this? Tell me how and what your perspective is!