CZ Opens up on Reddit AMA Before Delivering Pizza

Changpeng Zhao discussed with various users about diverse topics in the crypto market. The CEO also participated in the recent Bitcoin Pizza day by delivering free pizzas to lucky users.

Excitement for CZ Amidst Bear Market 

The crypto market faced a major crisis as many top investors, projects, and influential figures suffered huge losses from the recent LUNA slump. Binance CEO Changpeng Zhao (CZ), who lost a huge chunk of LUNA and UST holdings, still participated in recreational activities irrespective of the market crash.  

Binance CEO, on May 17, tweeted “Poor Again” alongside a publication from Fortune about the Exchange’s LUNA investment of $1.6 billion which crashed to $3000, including some staked UST. Despite the loss, CZ was present for an Ask Me Anything (AMA) session on May 21, hosted on Reddit to discuss a diverse range of cryptocurrency-related topics with numerous users. Additionally, the CEO was pictured delivering Pizza on Bitcoin Pizza day. Binance offered Pizza to five lucky winners to celebrate the event’s 12th anniversary on May 20.

Numerous users questioned CZ during the AMA on the Reddit r/CryptoCurrency Community. While introducing himself to users, the CEO jokingly mentioned going back to delivering Pizza just like how he started at McDonalds. 

“For those of you that don’t know me, I’m CZ, the CEO and Founder of Binance, one of the world’s leading blockchain ecosystem and crypto exchanges. I started my career at McDonald’s, and have done a few things between then and now, including working in tech & finance, building businesses, and more. And most recently you might have seen I’ve gone back to my roots, delivering Binance Pizza,” CZ stated. 

While the LUNA crash hit CZ, he created time to mingle with users through the Reddit AMA. Additionally, the Pizza delivery is a respite from the bear market. Will CZ and Binance recover from the massive loss? Time will tell. With LUNA 2.0 on the horizon, there is hope for CZ and the affected crypto population. 

You can check the AMA HERE to read the conversations between users and CZ, including essential details about LUNA and UST. 

CZ Defends LUNA and UST Trading 

Many users were concerned about Binance resuming both UST and LUNA trades due to LUNA’s failure. CZ was questioned during the AMA by a user who asked why the Exchange resumed trades for both assets above, knowing that LUNA was a failed project. The CEO backed the move, stating that nobody was forced to buy them just because trading was on. 

“In a decentralized world, there are many other exchanges too. If we suspend trading, and prices move on other exchanges, what do you think the holders will say? We suspended trading briefly when the validators paused the blockchain, even that caused a lot of complaints, but I believe our action forced the validators to resume the network within a couple of hours. Lastly, no one is forcing anyone to buy just because trading is on. There are high risk tolerance buyers willing to take over from sellers. The market place is neutral,” CZ disclosed. 

In the meantime, LUNA trading is unavailable on Binance Exchange in preparation for LUNA 2.0 on May 27. According to the protocol’s tweet on May 26, the new LUNA 2.0 token would be distributed to eligible users based on Terra’s distribution plan. Read Binance’s announcement HERE for more details. 

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