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Binance denies buying 100 thousand bitcoins

Binance denies buying 100 thousand bitcoins

Earlier, some media reported that the platform purchased a major Bitcoin batch amid a fall in the price of the world's first cryptocurrency.

However, as the CEO of the Binance exchange, Changpeng Zhao, said, the information about the purchase of more than 100 thousand BTC is not true. 

As reported by some media, on June 18, one of the Binance-owned cold wallets was replenished with 101,266 bitcoins. Now, this wallet holds 353,863 BTC worth $7,060,876,238. That's almost 2% of all coins in circulation.

However, Zhao called the information "another misleading article" and said its authors do not clearly understand how exchanges work with cold wallets.

On June 18, the Bitcoin price collapsed below the psychological level of $20,000 and dropped even lower to $17,800. Since the beginning of the month, bitcoin has fallen by 36% and Ethereum by 44%. The Fear and Greed Index is up by one point, reaching 9.

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