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Elon Musk Thrusts Dogecoin Into the Spotlight Following Binance DOGE Brawl

Elon Musk is a perennial thorn in the side of crypto leaders. The Tesla (NASDAQ:TSLA) magnate can turn up the heat on a blockchain network at will, and he oftentimes does through his heavily followed Twitter account. In the early hours of the morning today, Musk decided to put Binance (CCC:BNB-USD) in the hot seat over its recent Dogecoin (CCC:DOGE-USD) drama.

Dogecoin coins with doge faces peeking out of brown leather wallet. The coins have the words "wow much coin how money" embossed on them.
Source: shutterstock.com/Igor Igorevich

While the man is very fond of boundary-pushing tech, Elon Musk still doesn’t let a project get away with any sort of technical faults. His own Tesla has had its fair share of shortcomings. However, he has proven to work diligently to address the issues extremely quickly. Most recently, the company recalled 12,000 vehicles, but it almost immediately remedied the technical fault with an over-the-air software update to the vehicles.

This anecdote is to say Musk doesn’t stand idly. When he found out about the massive energy consumption of Bitcoin (CCC:BTC-USD) mining, he immediately dropped the coin as a Tesla payment method. In doing this, he tasks the network to cut down its energy consumption or never become a Tesla payment again.

Well, Musk is taking aim at another blockchain giant today through his comments on the Binance DOGE issues.

Binance DOGE Issues Cause Elon Musk and CZ Twitter Fight Over Dogecoin

Binance is seeing a major technical fault with its platform regarding Dogecoin wallets and transactions. Specifically, the platform is experiencing what it is calling a technical error; the error is preventing DOGE holders from withdrawing their funds. Other users are receiving old Dogecoin transactions as well. This mess, as Binance is saying over Twitter, is not something immediately fixable, either. Rather, the platform says a remedy will take “another week or so.”

Rightfully, Dogecoin holders are upset by this. Elon Musk, an avid DOGE bull, is one of the many who has a bone to pick with Binance over this sudden and dramatic error. As such, he took to Twitter this morning to press the platform and its CEO directly.

Musk is tweeting directly at Changpeng Zhao, also known as CZ, the CEO of Binance. The Tesla executive is calling the Binance error “shady,” and he is pressing Zhao for more details.

The Binance official account replied to Musk’s question with a pretty even-keeled answer, acknowledging the frustrating nature of the ordeal. CZ, on the other hand, aggressively clapped back at Musk. The Binance leader called back to Tesla’s recent recall, trying to turn the tables and put Musk in the hot seat. Of course, it’s worth noting once again that this error was fixed in the same day by the Tesla team.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/11/elon-musk-thrusts-dogecoin-into-the-spotlight-following-binance-doge-brawl/.

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