The CEO of BitMEX, Arthur Hayes has offered to teach the CEO of Binance, Changpeng Zhao, the rudiment of crypto derivatives, enjoining the cerebral CEO to attend his “running a crypto derivatives platform 101” the next time he lands in Singapore.
Hayes’ statement came after CZ Binance claimed a market maker from a smaller futures vexchange attempted attacking Binance futures platform.
CZ said during the attack, no one was liquidated due to the fact that the platform uses index price (not futures prices) for liquidations, an idea first said to be innovated by Binance. CZ claimed the attacker lost a bunch of fund while trying to make the illegal move.
Meanwhile, twitterratti disparaged CZ Binance for making such a bogous but untrue claim, reminding him that BitMEX was first to make use of the idea.
Next time I’m down in Singapore @cz_binance please attend my running a crypto derivatives platform 101. I teach advanced cntl+C cntl+V methods. Price of entry … 51% of your equity. https://t.co/RYGkf4aJih
— Arthur Hayes (@CryptoHayes) September 16, 2019
One of CZ’s followers said BitMEX has had liquidations tied to the index price “since forever”.
In his response, Arthur offered to teach the CEO advanced skills needed to run bitcoin futures derivatives, glitch free.
However, he said the Binance CEO has to pay 51% of its equity for the worthwhile education.
The melodrama did not end there. CZ also responded to the Arthur’s request that he would be the first person to book a flight for the BitMEX CEO.
He said he had to read the tweet again and discovered it was misleading. He said he never meant to say the index price liquidation was innovated by Binance, adding that there’s no edit button on Twitter for him to change his stand.
lol, let me book that flight for ya. Happy to attend any class to own 49% of any venture you run.
(I read the tweet again, it was misleading in the way it was written. I didn't mean the index price liquidation is our invention. but anyway… no edit button)
— CZ Binance (@cz_binance) September 16, 2019
BitMEX and Binance has been at loggerhead for some time. Early this month, BitMEX condemned Binance for making use of its articles on its newly acquired Bitcoin Futures Derivatives platform.
However, Binance felt bad for such, claiming they did not inspect the newly acquired platform, to discover there are atoms of plagiarized articles on it.