Binance CEO Changpeng Zhao has expressed concern to traders after learning of the infamous concept of “trade jitter” in action on other cryptocurrency exchanges. In cryptocurrency trading, jitter is associated with trading opportunities that allow a trader’s sell or buy orders to jam and shift down within their respective lists, allowing the latest trading orders to continue.
Zhao Mentions “Jitter”, Community Speculates FTX
Binance’s CEO learned about the unique term in a tweet, stating that there are certain exchanges where consumer orders have stagnated for a while and that opportunity is taken away by new orders. It seems that exchanges have coined their own term “jitter” due to the frequency of each of these occurrences.
Faced with anxiety, Mr. Zhao’s concerns were not openly against any particular crypto exchange. However, the cryptocurrency community on social media platform Twitter assumed that the particular platform was his FTX, a cryptocurrency exchange led on behalf of Sam Bankman-Fried. Responding to the community’s reaction, Zhao said the entire community knew about it and did not reveal it. According to him, they must confront malicious actors.
FDIC Sends Stop Order to FTX US to Defraud Clients
Apart from that, he reached out to VIP traders on Binance. They reportedly claimed to know about the illegal operation. Indirect charges against the FTX concurs platform were filed when the Federal Deposit Insurance Corporation (FDIC) issued a restraining order on the venue along with four other cryptocurrency exchanges.
In the words of the FDIC, Cryptonews, SmartAssets, Cryptosec, FTX US, and FDICCrypto appear to have misinformed investors by claiming that the FDIC is the insurance company for their products.
In response to the order, FTX US president Brett Harrison deleted a post on his Twitter account dealing with the allegations the regulators challenged. Nevertheless, when FDIC insurance-related claims were made by Harrison, Crypto Twitter quickly highlighted several other instances. It reiterated its amended statement that it does not guarantee it, and clarified that it will work on the platform going forward.
https:///binance-ceo-raises-concerns-traders-learning-trade-jitters/ Binance CEO voices concern to traders after learning about trade jitters