Cryptocurrency exchange Binance won’t buy bitcoin when the exchange rate falls

Changpeng Zhao, CEO of cryptocurrency exchange Binance, said that the information about the purchase of 101,266 BTC by the platform is fake. Zhao wrote about this on his official Twitter page.

twitter.com/cz_binance/status/1 538 635 203 152 859 136?s=20&t=p52NCIONiS9RjMlQRZ7T7Q

Recently, some media outlets reported that Binance has acquired more than 100 thousand BTC due to the rapid drop in the price of bitcoin. Changpeng Zhao called this information «another false article» and said that journalists simply do not understand how cold wallet exchanges work.

As a reminder, on June 18, the bitcoin rate dropped to $ 19,000, having fallen in price since June 6, when the last wave of sharp declines in the price of BTC began, by 39% (at the time of writing, bitcoin is trading at $ 20,068). The cryptocurrency’s capitalization has fallen to $ 368 billion with daily trading volumes of $ 24 billion. Other major cryptocurrencies, such as Ethereum, Binance Coin, Monero, Avalanche, Cardano, Solana, and Dogecoin, are also falling in price.