Bitcoin Fake news: Binance “buys” 101,266 BTC? It is not quite so!

Yes but no – The market of Bitcoin (BTC) and cryptocurrencies have been more than feverish in the past few days. Especially with a price of BTC that we have seen drop below $ 20,000. In this kind of bear market (bear market), good news tends to be overshadowed by bad news. This time, a (false) statement about Binance he was too optimistic. Because unfortunately, and contrary to initial claims, the Changpeng Zhao platform didn’t buy more 100,000 BTC that arrived on his cold wallet.

Binance “adds” 101,266 BTC to its secure wallet

This June 18, 2022, a little (too much) too much enthusiasm has arriveda transactiontook place within block N ° 741287 of the blockchain network of Bitcoin. In this case it was a transfer of 101,266 bitcoin on a wallet. Or close to $ 2 billion at the time of the transaction. And not on any other wallet: that of the crypto-exchange Binance.

While the media was already the headliner of Binance’s “massive purchase” of bitcoin, its co-founder and CEO – Changpeng “CZ” Zhao – had to quickly put the kibosh. This is not an investment by the cryptocurrency exchange platform, but simply a secure deposit of BTC by users from Binance.

In fact, a cold wallet allows offline storage of cryptocurrencies. This makes them much less easily accessible hackerthrough the Internet.

“Another incorrect article [ci-dessous]. when [les BTC] on the cold wallet of Binance are on the rise, it means that more users have deposited on Binance. This reporter does not seem to understand the concept of a cold wallet for exchanges.
>> Breaking: Binance buys low point and adds 101,266 bitcoins. “

Twitter account @cz_binance

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CZ is pleased with the juicy exchange fees to raise BTC

Even though Binance hasn’t bought these bitcoins, the platform has another way to accumulate this digital gold: its own exchange fee !

While in Changpeng Zhao it is suggested that Binance “I should buy” this amount, the CEO responds on his Twitter account that the exchange permanently suppliedto each exchange of BTC through its services.

“I tend to agree. But we are already piling up [des bitcoins] from taxes. At all times and very consistently. “

Changpeng Zhao explains that Binance accumulates BTC through its exchange fees.
Twitter account @cz_binance

Although the cryptosphere is in dire need of good news bullish (bullish), getting carried away too fast without checking is counterproductive. However, the positive remains that, in CZ’s own words, Binance did it always trust in Bitcoin, since “rack up”. However, the crypto-exchange will have to face some of them judicial turmoil, for the disaster of the Earth (LUNA) and its stablecoin UST.

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