The rumors of global crypto platform Binance buying $2 billion worth of Bitcoin amid the market crash is falsely being reported, says the platform’s CEO Chengpeng Zao (CZ).
CZ tweeted that the article titled “Binance Sees Deposits Of 101,266 Bitcoin As BTC Prices Crumble” is false.
What actually happened was that more users deposited Bitcoins, increasing the bitcoins in the platform’s cold wallet.
This does not in any way imply that the platform bought those Bitcoins.
He then took a shot at the writer of the report saying, “This journalist doesn’t seem to under the concept of cold wallets for exchanges.”
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Binance has been providing consistent and efficient trading services even among the tumultuous market, proving to be one of the best crypto platforms out there.
