Binance Co-Founder He Yi Addresses Crypto Price Criticism
He Yi , co-founder of Binance, has addressed recent criticisms suggesting that the exchange is responsible for cryptocurrency price fluctuations. In a public statement, she emphasized that while Binance continuously works to improve its products and operations, it cannot be held accountable for the inherent volatility of digital assets.
He Yi acknowledged that Binance faces challenges and welcomes constructive feedback, but she also expressed concern over excessive external accusations. She noted that Binance’s customer service team actively gathers user input online but is weary of being turned into a “criticism site
Market Controversy: The ACT Token Decline
This response comes amid growing scrutiny following a sharp decline in the price of ACT, a token listed on Binance. On April 1, ACT’s value plummeted by over 55% within a short period, sparking concerns about market manipulation. Binance’s internal investigation attributed the drop to large sell-offs by three VIP users and one non-VIP user, fueling debates about the role of major stakeholders in market movements.
In addressing the situation, He Yi reaffirmed that Binance, as a neutral trading platform, does not manipulate cryptocurrency prices. She stressed the importance of transparency from project teams, calling for more disclosure requirements to help investors make informed decisions.
Calls for Greater Investor Awareness
He Yi also urged users to conduct thorough research before investing in any project. While Binance lists popular tokens to meet market demand, she acknowledged that some projects may fail to sustain long-term value.
These remarks highlight the ongoing challenges facing cryptocurrency exchanges, which must balance operational improvements with user expectations in an inherently volatile market.
