The $2 billion of Bitcoin funds moved by Binance was a part of a proof-of-reserve audit conducted by the crypto exchange.
FUD Spikes With BTC Outflow
A significant outflow of crypto funds from the Binance exchange was reported on Twitter on Monday. The account called Whale Alerts reported that 127,351 BTCs were pulled out of the exchange in a single transaction and deposited in an anonymous wallet address. The value of the funds moved amounts to just over $2 billion.
Understandably, this triggered community-wide fear and panic as everybody jumped to the conclusion that Binance was either hacked or was on the verge of shutting down. As a result, the market catapulted, with a sharp drop of 5% of the BNB token.
CZ Explains Funds Transfer
However, Binance CEO Changpeng Zhao (CZ) tweeted out a clarification that the funds moved were part of Binance’s proof-of-reserve audit. He claimed that the auditor needed to receive a certain amount of BTC to demonstrate how the Binance wallets w
We współpracy z: https://cryptodaily.co.uk/2022/11/binance-s-2b-btc-outflow-triggers-alarm-bells
