Binance has finally come to rescue Terra Blockchain even after Changpeng Zhao, the CEO of Binance criticized Terra in a series of Tweets. The news was announced by Binance’s Twitter Page which also said that they were closely working with Terra towards the rebirth of its blockchain.
The tweet comes right after the Terra community passed a resolution announcing the rebirth of Terra Blockchain and along with it LUNA and Terra UST.
Earlier in a series of tweets on 13 May 2022, the CEO of Binance announced the delisting of Terra and with it he also criticized the algorithm behind Terra’s UST. He blamed this algorithm for the demise of Terra. He also showed his disappointment towards how Terra’s team mishandled the situation.
Binance’s support for the rebirth of Terra might have come as a surprise to many but must be celebrated as Binance took the role of an industry leader very well.