Bitcoin Mobility Happened on Binance! Here’s Why!

Leading cryptocurrency bitcoin The largest in the world, falling below $ 16,500 cryptocurrency exchange BinanceThere is BTC activity in .

Tracking large amounts of cryptocurrency transfers Whale Alert, In the post he shared on his twitter account, he was worth $2.06 billion. 127,351 BTCannounced that it was transferred from the crypto exchange Binance to an unknown wallet.

The crypto community is huge BTC While trying to find the reason behind the transfer, crypto analysts stated that the BTC transfer in question may be Binance’s own internal transaction.

Explaining about Bitcoin transfer Binance CEO Changpeng Zhao (CZ) confirmed by analysts.

Stating that Bitcoin transfers are part of the Proof of Reserve Control, CZ quoted Whale Alert’s post in his statement and made the following statements:

“The Bitcoin transfers in question are part of the Proof of Reserve Audit.

The auditor asks us to send ourselves a certain amount to show that we have checked the wallet. And the rest goes to a new address, Change Address. In this case, Input tx is greater and so is Change. Ignore the FUD!”

This is part of the Proof-of-Reserve Audit. The auditor require us to send a specific amount to ourselves to show we control the wallet. And the rest goes to a Change Address, which is a new address. In this case, the Input tx is big, and so is the Change. Ignore FUD! https://t.co/36wUPphIZk pic.twitter.com/2NkH5L5J9j

— CZ 🔶 Binance (@cz_binance) November 28, 2022

Following CZ, Binca also made an official statement:

“As part of our Proof of Reserve process, Binance is working with a 3rd party auditor to provide proof of ownership.

As a result of this, you will likely see some large transfers between Binance-owned wallets throughout the day.

Funds Safe!”

As part of our Proof of Reserves (PoR) process, #Binance is working with a 3rd party auditor to provide proof of ownership.

You will likely see some large transfers between #Binance‘s owned wallets throughout the day as a result of this.

Funds are SAFU.

— Binance (@binance) November 28, 2022

After the recent events in the market bitcoin opened the week with sales. With the sales BTCAt the time of writing, it is trading at $16,226, down 2% in the last 24 hours.