CZ says no need to FUD as Binance transfers 9,001 BTC "for a good thing"

17 Jun, 2019
by Richard Allen
Breaking News
CZ says no need to FUD as Binance transfers 9,001 BTC for a good thing

Binance chief executive, Changpeng Zhao tweeted recently giving crypto Twitter a heads up about a transfer of 9,001 BTC, urging the community not to panic.

While CZ didn’t give too many other details regarding the transfer, he did state that it was “for a good thing,” adding that more details would be coming soon. Picked up by Twitter bot Whale Alert, the transaction details confirm Binance transferred 9,001 BTC, valued at $82.9 million, to an unknown wallet.


With CZ giving the community a heads up and not including a whole lot of detail, many began speculating what the funds would be used for, with several suggesting it may be for the upcoming exchange:

Several other users pointed out it may be for the forthcoming launch of margin trading on Binance:

Binance recently announced the launch of an exchange just for US traders while excluding them from the main platform. The news saw Binance Coin tank around 11% to $31.16. BNB’s decline came shortly after it set a new all-time high of $36.36. At the time of writing, BNB is trading at $33.29, up 0.97% over 24 hours.

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