As you know, you can transact with many different currencies on cryptocurrency exchanges. While the fact that a cryptocurrency named X is traded on the exchange named Y is an institutional link between the companies that developed X and Y, the exchanges have no control over their currencies. Should such a situation arise, neither the stock markets nor the talk about the security of cryptocurrencies it is hardly possible.

Binance, the world’s largest crypto exchange, was unfortunately blamed for hacking BNB Chain last week. Binance, which received unfair criticism and reaction because of the misleading news in the media, actually BNB Chain had no control over it.

The Binance Turkey team, who contacted us about what happened, spoke its global principle of “transparency” emphasizes. We can say that the principles published by Changpeng Zhao, the founder and CEO of the exchange, are one of the most concrete indicators of this principle of transparency.

Binance CEO shared CZ’s principles and approaches to running the company openly with the world:

While blockchain standards tell us the opposite, cryptocurrency exchanges generally do not share their management principles and principles with the public. Essentially, stock markets are centralized structures that are run by people and that pursue commercial goals. For this reason, it may seem natural that an exchange operates in a closed structure, independent of the principles of the blockchain. However, Binance CEO CZ adheres to the famous transparency principle at the root of blockchain and even Bitcoin, as opposed to institutional structures, in a blog post he published today. own principles and approaches. explained.

The general principles include being ethical, positive and fair; CZ, who explains general aspects such as building long-term and win-win relationships, continuous learning, avoiding bad relationships and focusing, In the 15-item “principles” list It describes the steps Binance takes in its decision-making processes, its approach to human resources, team and organizational structures one by one.

Binance operates on the principle of immediate response to journalists and negative news about the company:

In stark contrast to the behavior of shunning journalists, the media and reacting to negative news that we are used to in large corporate structures, CZ argues that Binance should always be available.

“If you don’t respond to reporters, they write the worst versions of the story they have.” said CZ to the Binance team. “Reply, save and post later if needed” gives advice. In addition, negative news about the company says there needs to be a response before it grows and triggers a crisis.

These statements from CZ show that Binance has broken the usual patterns. We hope that Binance will benefit investors and the cryptocurrency ecosystem both in the world and in Turkey. to the full statement from here you can reach.