Binance CEO is confident that Luna’s rescue plan is doomed to fail

The CEO of the largest cryptocurrency exchange Binance has criticized Terra’s proposal to save the project by forking the blockchain.

«It won’t work. A fork does not provide any value. You cannot void all transactions after the old snapshot. The issue should be reduced by burning, not by forking and rejecting everyone who tried to save the coin.»

Zhao also raised the question of where all the BTC that was supposed to be used as a reserve went. In the comments to the tweet, other users also asked the same question.