Binance did not purchase US$2 billion worth of Bitcoin as the media reported, founder and CEO Changpeng Zhao said in a tweet.
At least two major news sites have reported that Binance bottomed and collected around 101.266 Bitcoin as they tracked the Binance cold wallet.
“Another false article,” Zhao tweeted today. “As Binance cold wallets increase, that means more users depositing money into Binance.”
Another wrong article. When #Binance cold wallet increases, it means more users to increase #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 Monday morning Asia time, Bitcoin price recovered above $20.000 after falling to as low as $17.708 on Sunday, according to data from CoinMarketCap.
Withdrawals on the Binance Bitcoin network were halted last week because Zhao said a stuck transaction caused a backlog, but the exchange resolved the issue within hours.
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