Binance defended its choice to support projects with high risks after users reprimanded it for listing SUSHI initially. The criticism came after the token dropped substantially to $1.13 from $9.5 only five days after listing when the project supervisor moved massive funds from dev fund.
Changpeng Zhao, chief executive of Binance, defended why they chose to list SUSHI and other projects in a post made on Twitter.
CZ stated that Binance supports innovation, and the chances are either high profit or high risks. Not all projects become successful. He stated that he usually inform individuals to be extra careful whenever things are hot, but it is painful to see them when they don't manage their risks.
Sam Bankman-Fried, the chief executive of FTX, now oversees the project, which makes the observers of DeFi sad, and others who purchased the token blamed Binance for listing it.
Binance has always backed DeFi projects for a long time and had listed several projects in the previous year. CZ stated that he has confidence in DeFi projects being the future, even though it requires further enlightenment and trials before it prevails.
Source: Cointelegraph
