Binance’s $1B BTC buy fails to win back trust after Oct. 10
Skepticism about Binance and CZ continues to fester since October 10, and the company’s $1B BTC buy isn’t helping.
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Skepticism about Binance and CZ continues to fester since October 10, and the company’s $1B BTC buy isn’t helping.
Read more (2 min) →In December, Binance listed billions of dollars in excess proof-of-reserves but much of that capital buffer has now vanished from view.
The coins were moved in two separate transactions of $59.2 million and $7.3 million shortly after bitcoin crept above the $70,000 threshold.
Fears circulated on Wednesday of a liquidity crisis at Binance after 44,808 bitcoins were withdrawn from the exchange.
Nearly $200M in bitcoin has left Binance's coffers after CZ pled guilty to federal charges. Prosecutors say the ex-CEO is a flight risk.
Binance halted withdrawals of bitcoin as on-chain fees spiked due to increased usage of the ordinals protocol.
El Salvador said it wanted to launch its $1 billion Bitcoin bond in March. Now, it might not hit markets until September.