The Binance cryptocurrency exchange was ordered to remove a swastika-like emoji

The Binance cryptocurrency exchange was ordered to remove a swastika-like emoji

Binance, a cryptocurrency exchange, had to remove a new emoji after Twitter users claimed it looked like a swastika. It stated that the situation was “clearly incredibly embarrassing” and that the design would be ditched in favour of a new one.

Binance, the world’s largest cryptocurrency exchange, said it didn’t know how the design made it through numerous stages of scrutiny.

The emoji or hashflag was a golden square with four “L”-shaped arms that looked like swastika arms.

Hashflags are emojis that appear when a Twitter user types in specific hashtags.

Brands are charged for using Twitter, and some have spent seven figures on the service, according to trade newspaper Adweek.

Binance, as well as Changpeng Zhao, the company’s CEO and founder, deleted tweets using the hashflag.

The swastika was the symbol of Nazi Germany, even though it is an ancient symbol that predates the birth of fascism. Far-right militants continue to use Swastikas. Separately, Binance has declared that its services will be restricted to Russian residents, Russian citizens, and Russian-based businesses with crypto assets worth more than 10,000 euros (£8,321).

The accounts of those impacted will be placed in “withdrawal-only status.” There will be no deposits or trading allowed.

The move was made in response to the European Union’s most recent penalties, according to the corporation.

Previously, calls from Ukraine to restrict Russian users were turned down by the exchange.

“Many regular Russians do not agree with conflict,” Mr Zhao said in an interview in early March.

While the new sanctions may only apply to ordinary Russians, Binance said in a statement that it “must continue to lead the industry in enforcing these prohibitions.”

“We expect all other significant exchanges to have to follow the same criteria at some point,” it stated.

Binance has offered a donation of $10 million (£7,661) to Ukrainian humanitarian programmes.

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