Bitcoin Worth $2 Billion Transferred from Binance on Market Dip

Nov 29,2022
Bitcoin Worth $2 Billion Transferred from Binance on Market Dip

Based on the data information of the encryption data tracking enterprise WhaleAlert, the BTC worth 2 billion dollars was used to migrate from Binance. In a tweet, it reported that 127351 BTC worth 2062504721 USD was transferred from Binance to an unknown wallet.

This led to a lot of speculation on Crypto Twitter. Now the market is still under pressure. Bitcoin fell 2% to close at $16221.

In response to this, Bing CEO Chang Zhao responded on Twitter that the use of BTC worth US $2 billion as part of the financial audit certificate of risk reserves was migrated. According to him, the auditor must push a special number of BTCs to show how the Binance wallet is controlled.

With the probability of FTX occurring, many exchanges withdrew and gradually turned to their own control, which caused everyone's anxiety. According to Santiment, the Bitcoin reserve of the exchange has dropped to the historical bottom, less than the record breaking 7%. At this stage, only 6.95% of Bitcoin is traded on exchanges.

This is also the time when Bitcoin was discharged from the exchange to a record high in the past week. Coinglass data shows that the exchange has sold 128751 BTC in the past seven days.

Binance indicates reserve certificate

After the FTX incident, several cryptocurrency exchanges recently released his reserve certificates. In the past week, Binance, the cryptocurrency exchange, announced the release of its reserve certification system software. The key is Bitcoin.

Binance has brought a snapshot update of the balance and Bitcoin reserve. It claims that its reserve contains 582485 BTC, and the customer's net account balance is 575742 BTC.

In the recent incident related to FTX despair, the government departments of the Bahamas resented the new CEO and restructuring officer of FTX, John J. Ray III, and this war about Sam Bankman Fried's running away from the rest of the kingdom became increasingly fierce.