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Elon Musk attacks CZ about Dogecoin (DOGE) when Binance wants to raise capital

 Binance, the world's largest cryptocurrency exchange by trading volume, is said to be in talks with government investment funds, to sell them a stake in the company.

In addition to the plan to prepare to raise "huge" capital for Binance.US before the IPO. Binance CEO Changpeng Zhao (CZ) said in an interview on November 22 that Binance is also currently seeking global funding to improve its relationship with regulators.

According to him, the upcoming fundraiser is aimed at improving awareness and sentiment among many governments as regulators around the world have been consistently “challenging” Binance this year.

“This move is entirely in line with the direction of Binance but could also tie us to specific countries. We will have to be very careful.”

As Binance is currently at the preliminary discussion stage, it is still early to reveal the names of the global funds involved in the exchange's fundraising. However, the Binance CEO has revealed that the scale of this fundraising will not be small, and will be a journey of efforts along the way to a successful outcome.

An interesting case happened that as soon as Binance's strategy information was shared by Coindesk newspaper, Tesla Inc (NASDAQ:TSLA) CEO Elon Musk responded immediately in the comments section with a tweet. with the content of attacking the event that Binance blocked Dogecoin withdrawals, asking users to return DOGE even though the error was caused by the exchange.

“Hi CZ, what's going on with your Doge client? It sounds shady."

It is not clear whether this is a "teasing" act of Binance for having the courage to touch his favorite coin or a serious criticism. But, on Changpeng Zhao's side, he immediately responded to Elon Musk's comment, confirming that the DOGE wallet is experiencing an error and the exchange team is working to fix it. The Binance CEO asked Elon Musk for forgiveness, before attacking back by sharing an article that Tesla had a software error and had to recall 12,000 vehicles earlier this November.

Previously, the CEO of Binance also attacked Musk about the event that Tesla stopped paying Bitcoin because of environmental concerns.

"Elon Musk probably didn't research the energy needed to maintain the traditional monetary system that Tesla is accepting."

Changpeng Zhao is the largest shareholder of Binance. With Forbes' statistics as of now, he ranks 5th among the world's richest men in the crypto industry and 22nd richest billionaires in Singapore, with an estimated total net worth of 1 ,9 billion USD.

However, with Binance possibly being valued at up to 300 billion USD if listed on the stock exchange, Changpeng Zhao's fortune could reach nearly 200 billion USD, enough to help him enter the top 5 richest people on the planet. .

Global regulators have increasingly scrutinized exchange Binance this year, with at least dozens of governments issuing warnings against the company. However, Binance's daily trading volume increased to $170 billion in November 2021, going from $10 billion to $30 billion within the previous two years.

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