On June 18, while Bitcoin was still fighting to regain the $20,000 price zone, some rumors arose that Binance had bought back over 100,000 BTC when Binance’s wallet address increased the amount of BTC to 101,226 BTC. CZ spoke up and explained immediately to avoid misunderstanding.
An article pointed to the increase in BTC volume of Binance wallet last Saturday and suggested that Binance is bottoming. However, the CEO of Binance confirmed that this is the wrong article:
CZ explained that when Binance’s cold wallet address increases, it means more users are depositing money into Binance, not the exchange buying BTC. He also emphasized that the author of the article did not have a clear understanding of how cold wallets work.
It wasn’t long before rumors of the world’s largest exchange buying BTC spread and there were many falsely written articles on the matter that made CZ tired.
On Monday morning Asia time, the Bitcoin price recovered above $20,000 after falling to as low as $17,700 on Sunday, according to data from CoinCu. At the time of writing, the $20,000 price zone is still having a fierce dispute between the bulls and the bears.
Withdrawals on the Binance Bitcoin network were paused last week as Zhao said a stuck transaction caused a backlog, but the exchange resolved the issue within a few hours.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Author
News
CZ Corrects Rumors Of Binance Buying 100,000 BTC
On June 18, while Bitcoin was still fighting to regain the $20,000 price zone, some rumors arose that Binance had bought back over 100,000 BTC when Binance’s wallet address increased the amount of BTC to 101,226 BTC. CZ spoke up and explained immediately to avoid misunderstanding.
An article pointed to the increase in BTC volume of Binance wallet last Saturday and suggested that Binance is bottoming. However, the CEO of Binance confirmed that this is the wrong article:
CZ explained that when Binance’s cold wallet address increases, it means more users are depositing money into Binance, not the exchange buying BTC. He also emphasized that the author of the article did not have a clear understanding of how cold wallets work.
It wasn’t long before rumors of the world’s largest exchange buying BTC spread and there were many falsely written articles on the matter that made CZ tired.
On Monday morning Asia time, the Bitcoin price recovered above $20,000 after falling to as low as $17,700 on Sunday, according to data from CoinCu. At the time of writing, the $20,000 price zone is still having a fierce dispute between the bulls and the bears.
Withdrawals on the Binance Bitcoin network were paused last week as Zhao said a stuck transaction caused a backlog, but the exchange resolved the issue within a few hours.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Other Posts
Related Posts
News
Hong Kong Crypto ETFs Of HashKey And Bosera Completed Subscription To Launch On April 30
News
The Bitcoin Epic Satoshi Of The 4th Halving Was Auctioned For Over $2.1 Million
News
