Binance chief announces contest to winning Tesla, $50,000 worth of dogecoin

The CEO of Binance Changpeng Zhao, is offering a Tesla and $50,000 worth of dogecoin in a contest that was announced on Twitter on Monday.

To enter the contest, following rules have been announced:

1. Retweet his post
2. Follow him, his firm, and Elon Musk on Twitter
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3. Have a verified Binance account that cleared “know your customer” (KYC) standards designed to protect against illegal activities
4. Choose which prize and say why

Binance will pick one winner from each team, denoting to dogecoin or Tesla.

Zhao tweeted “Our favorite answer from each ‘team’ will win,” which was attached with a 13-second video.

Dogecoin founder Billy Markus commented: “Important.”

The contest period is determined between November 29, from 12pm UTC to December 13, 11:59pm UTC.

According to the fine print, the Tesla Model 3 will be presented to the winner, which is worth around $45,000. The winner will also receive $50,000 worth of Binance coin (BNB) instead of the electric car.

So far, tweets from participants extended from how crypto altered their lives to how the prize will help them fund their college education.

Musk recently tweeted at CZ on November 23, saying: “What’s going on with your Doge customers? Sounds shady.”

Elon was denoting Binance swinging its dogecoin extractions since November 11 due to a malfunction.

The crypto exchange on Monday declared users can now recommence withdrawing the 10th largest crypto by market capitalisation.