The Cryptocurrency industry has witnessed the arrival and departure of several prominent companies. The one who shook the entire ecosystem was FTX’s downfall. In the midst of this, the existing companies tried to expand their operations. Founded by Changpeng Zhao, Binance has been the best Cryptocurrency exchange for a while now. Despite this, the company has drowned in troubled water for several reasons. More recently, Binance was accused of selling a significant amount of Bitcoin (BTC) as well as Ethereum (ETH).
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Looking at Binance’s Bitcoin balance
Earlier today, an X user revealed The binance had sold 94% of its bitcoin. This came as a massive shock to society. However, AB Kaui Dong confirmed that this was the stock exchange’s funds and did not belong to its users. But Binance was quick to dismiss rumors and confirmed that it was part of its standard accounting process. Exchange AddedThe
“Binance does not sell assets. This was simply an adjustment in Binance Treasury’s Accounting Process. User funds are Safu, as always. “
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How is BTC going right now?
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