Binance CEO denied information about the exchange’s purchase of 101 266 BTC
It was previously reported in the media that the platform acquired bitcoins amid the fall in the asset’s rate
![Binance CEO denied information about the exchange’s purchase of 101 266 BTC](https://storage.getblock.net/source/1/WxYx2ufnfX50LpEfP5loOfsjMITAhdRB.webp)
20.06.2022 - 07:25
324
2 min
0
What’s new? The CEO of cryptocurrency exchange Binance Changpeng Zhao said that the platform did not buy 101 266 BTC ($2 billion as of June 20), as previously reported in the media. On June 19, CoinGape reported that the cryptocurrency exchange took advantage of the decline in the bitcoin rate to buy the asset. Zhao called the information “another wrong article.” He noted on Twitter that the authors of this piece do not understand how exchanges work with cold wallets. Zhao explained: that an increase in funds on the exchange’s cold wallet means more users deposited to the platform.
Another wrong article. When #Binance cold wallet increases, it means more users deposited to #Binance. This journalist doesn't seem to under the concept of cold wallets for exchanges. 😂» Breaking: Binance Buys The Dip, Adds 101,266 Bitcoin https://t.co/RbrAHiUL2t— CZ 🔶 Binance (@cz_binance) June 19, 2022
On June 18, the price of bitcoin fell below $20 000 for the first time since December 2020. As of June 20, 07:40 UCT, BTC is trading at $19 903, according to Binance.
On June 13, Zhao noted that crypto winter is a great time to expand staff and make new acquisitions for the company. The exchange already opened 2000 new jobs and also plans new mergers and acquisitions (M&A).
Earlier, Binance representatives called false and exaggerated information in a Reuters article that attackers had laundered $2,35 billion with the exchange since it opened in 2017.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024