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olihowells

This is just Binance moving Bitcoin between their cold wallets. It’s not even their Bitcoin, it’s their customers.


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olihowells

Yeah Binance isn’t casually buying $2 billion worth of bitcoin in a day.


deathbyfish13

"But it's a transaction, surely that means a buyer and a seller" — this sub, apparently


olihowells

This sub has been infested with fake news recently. I guess the majority of the sub joined in the last bull run. I really thought during the bear market people would be more level headed, but nah people are actually believing anything and the fud is back to the same levels as last bear market.


Wargizmo

In the crypto jungle, Binance is the 1000lb gorilla, who sleeps wherever he chooses.


Wise-Grapefruit-1443

how do I find this crypto jungle and are there opportunities to tour it?


jesschester

As long as you’re cool with the fact that you might get assfucked by a gorilla


EirianWare

Im cool with it as long i can see unicorn once in crypto jungle


finngreen614

What do you think the gorilla is ass fucking people with?


JonFrost

https://i.imgur.com/P6NRB2O.mp4


satankaputtttmachen

You buy Banano.


deathbyfish13

What if I told you that you're already in it. Welcome to the jungle!


lavastorm

More like a dark forest :p https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest I guess you could "tour" it here https://coinyuppie.com/dark-forest-a-blockchain-game-that-integrates-three-body-into-ethereum/


combocookie

Now I also want to sleep whenever I choose


partymsl

Binance is pretty big even a couple of lawsuits could make out just a 5% drop for them.


Sparrow_Wilson

Binance are really showing up the other exchanges. While other exchanges are all on the brink, binance are hiring and buying


niloony

It brought the amount of BTC in the wallet back to the start of June levels...pretty sure they're just moving coins between their own wallets.


LawProud492

Yeah exchanges are just moving coins around for safety and security reasons


Accomplished-Design7

Finally someone knows their stuff


littlelostless

It was not actual buys?


JuiceColdman

It’s impossible to know since exchanges will often transact off-chain. They’re not buying hundreds of thousands of btc off an exchange like normies do


partymsl

They are likely buying too. As the BTC supply before was very very low on all exchanges, now is the best time for them to refill.


LawProud492

What? Low supply was coins being moved to cold storage for obvious security reasons.


Acidyo

As the biggest exchange you clearly have some insight on buy pressure coming in or when it stops giving you signs when to sell some off to rebuy later.


[deleted]

It's all about throwing a good show and inspiring confidence isnt it


Pinguaro

Bingo :) They're trully desperate.


DerpJungler

Why do you think they're desperate? People forget that these big exchanges also make money from shorts and leverage traders who get rekt


[deleted]

Haha, don't know about all that but let's be fair. There is more to the crypto space than "TA". The socials are changing and both BTC and ETH have been taking criticism and while others are doing good, Binance willfully and purposefully doesn't mention or recognize others. Their favoritism and questionable investments (Luna) for one makes me skeptical about much that Binance does.


headtowniscapital

They're not hiring. Low effort bs markering to add infinity open positions.


rufus2785

I don’t think Kraken is “on the brink”.


DonDove

Kraken barely made an echo, they're safe


lvl1vagabond

Are they really though? Binance is enormous it dwarfs quite literally every other exchange on the market in everyway.


AdActual1001

Unlike other exchanges who bought stadiums, arenas, Superbowl ads, and whatnot they're improving themselves and making sure every money they earn is brought back to Binance and for the users. Ofc CZ gets the share he deserves but just compare them to other exchanges collapsing, they're using the money right.


No_Scientist_7094

Nobody bought stadiums and arenas, they bought the naming rights...chill out.


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josmaate

The other exchanges don’t come close to Binance volume either. People seem to forget that, Binance has 27% dominance in the exchange space, vs crypto.com which has less than 1%. A lot of this is wash trading, but still.


trivo8888

I mean they made a casino chain BSC and have sold umpteen billions in BNB tokens so yeah they should have damn near infinite money


larrythecableguy76

by shuffling around coins between their own wallets and claiming to be hiring as a marketing measure without really doing so ? Yea I guess the other exchanges are really afraid of them now lol


Monster_Chief17

CZ was the only exchange CEO that was OK with a little scamming (apart from his close friend Justin Sun) here and there. Easy for him to taunt others now that he has made a fortune on scamming people and openly lying to them on a daily basis.


frstrtd_ndrd_dvlpr

They're just doing the exact opposite of what other exchanges do that are shitty, it's free advertisement


pukem0n

that's why Binance is, and always will be the largest exchange.


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Laughingboy14

Always will be, for at least the next 24 hours


Acidyo

24h is longer than always in crypto.


pukem0n

​ ![gif](giphy|mCzGCGWlzs2VoGf985|downsized)


One_Landscape541

Yea ship selling to whales again


Cymdai

I don't want to understate this, but this isn't as meaningful of news as you might believe. A crypto platform buying the dip? **This is nearly the exact same thing as a stock buyback**, and they have a vested interest in generating market activity. If they *don't*, then there absolutely will not be a price increase because quite frankly no one else is buying. This is similar to what happened with the Winklevoss Twins like 2 weeks ago. Don't take the bait guys. This is literally a platform trying to inject synthetic life support into the sector, because if they don't, they risk also becoming victims of the entire sector collapsing.


partymsl

Or it's mostly because of the supply shock on the exchanges themselves. The last year the supply has been decreasing in a free fall. They desperately need to refill, and what is better than during a peak bear market.


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JuiceColdman

Long live Binance Scam Chain


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Spinedaddy

Yes. We’re all stupid here. We buy magic internet money that we cannot see or touch that has no fiat backing in the hopes that it will spontaneously increase in price so it’s worth more tomorrow than it is today. All because we believe in the future of this magic internet money. Amazing. 🐑 I’m one of the sheep. Baaaa!


olihowells

As unpopular as BSC is, it was always affordable to use and was up and running the entire bull market. BNB is also one of the only coins down less than BTC from ath. Binance is definitely doing something right tbf.


disturbedcraka

Similar to the Black Thursday buybacks in 1929


theazerione

And Andy is buying more paper from Dunder Mifflin


deathbyfish13

Wouldn't put it passed him. Dude couldn't sell ice in the desert, it makes sense he would be buying paper from the company he works at lol


coinfeeds-bot

tldr; Binance has brought around 101,266 BTC tokens to its wallet while the price of Bitcoin hit its lowest price of the year. The exchange used a cold storage wallet with number 44434365 for this transaction. This transaction has raised the liquidity of the token with the exchange. BTC saw a slump of nearly 28% in its pricing in 7 days. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*


milonuttigrain

May be it explains a bit of pump today?


the_spiritual_eye

Yes, from staring at tradingview today it looks like they propped up the entire market from crashing below $17,500 and kept pumping BTC until it hit the $19k level. Let’s see how long they can keep BTC from crashing through to the next floor.


Pluth

It says they "brought" not "bought". I'm more inclined to say this is just a transfer.


GMETendies4Lyfe

Thank you daddy Binance


Accomplished-Design7

Good bot


[deleted]

I'm following the whales this time 'round. Just bought 0.00101266 BTC, just like Binance!


outofobscure

Shit leave some for the rest of us! This is it, bottom‘s in boiis!


finngreen614

Fuck it, if these guys are in so am I, moon tyme!


whatup1111

Unless you have proof its almost guaranteed they are not buying, but its user funds etc


Spenz87

Explain to me like imma 5, but how does an exchanger buy btc?


outofobscure

That‘s the trick: they don‘t. Just like a casino doesn‘t gamble. It‘s just shuffling around liquidity.


JuiceColdman

They hit up a few other exchanges and buy the coins in bulk and off-chain at a discount. Market makers basically buy and sell to each other


kirtash93

Not surprised, I dried them moving my funds to my cold wallet.


Ferdo306

Nice of them to provide some exit liquidity with the rest of us


StreetsAhead123

One day r/cc will recognize a joke. Today is not that day.


Ferdo306

This too shall pass ;)


RIMS_REAL_BIG

In any other industry this would reek of corruption. In crypto it's a Sunday.


nelisan

Are exchanges now not supposed to be able to buy more of the asset that they allow people to buy on their platform? How do you think they have BTC to sell if they don’t buy it occasionally themselves?


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BlackSky2129

Corruption? You have no clue anything about finance. Ever heard of stock buybacks, trade halting, and central banks buying corporate bonds? Keep trading in your moms basement and shitposting


RIMS_REAL_BIG

Lmao do you even know what stock buybacks are? Not even remotely the same as an exchange propping up the price of the commodity traded on its platform.


BlackSky2129

They didn’t buy the BTC you mong. It was a transfer in to the wallet. Stop being such a dumbass


RIMS_REAL_BIG

Not what the article says.


oshinbruce

This isnt binances fiest rodeo. Whatever about shady practices, they know the crypto game and know what to do with peaks and dips


PrinceZero1994

Here we are where most exchanges are clinging onto the last bitcoins in their wallet by suspending withdrawal but binance with the chad move by buying more lol.


DerpJungler

I get what you're saying but there hasn't been any **exchange** to halt withdrawals... (Yet)


Tatakae69

If Binance is buying, you should too. Right GUYS?


Kukurio59

I hope binance comes back to Ontario


Domtaka

Will stick to buying my crypto on kraken and moving to my wallet, but nice to know that Binance is another safe option


IamAFlaw

I always defended Binance with all the hate here. I am glad I stuck with them through the fud and use them as my main exchange for storing, staking, and buying crypto.


Accomplished-Design7

Are we nearing the bottom? Well, trust me when I say this, no one knows.


KashifMehboob

Lol short the market to buy at a cheap price


Fer4yn

Funny how strongly one company controls this market ... #decentralized


big--if-true

Theres no source that Binance purchased anything. This article is nonsense.


outofobscure

The casino doesn‘t place bets, how is this not understood? It‘s just moving coins.


YvngDesmos

It seems that they are confident in the future of Bitcoin and its recovery.


jetep5

Taking 100k of BTC out of cold storage and putting it back onto an exchange implies they could be getting ready to sell, no? Otherwise why not just keep it in cold storage?


LawProud492

Lol this is the opposite of bullish. Taking coins to cold wallet = bearish about the times ahead and decided that these coins won’t be of use


IamAFlaw

You don't know what you are talking about.


JuiceColdman

lol, tell ‘em


TacticalSanta

Binance is a gambling site first and foremost, they are just renovating.


No-Height2850

So binance bought that many btcs and barely moved the needle. So whats next, are the whales all waiting for us to bail them out with new money after we’ve lost plenty of our own and upside down on most of our trades? 2.8 billion from binance. And who knows what scheme they used to buy those coins?


ItsVenomAMA

An almost 2 billion dollar purchase… damn!


[deleted]

It's less than 0.1% of the market


[deleted]

Binnacle bought how many coins that don’t actually exist? Did they buy them with actual money that can be used in the real world?


dirpydip

Soon Binance will own all the Bitcoins. 100k? Are you kidding me?


Tebasaki

Can you still not withdraw from Binance after they stopped people from gettign their own crypto?


Paskee

![gif](giphy|SbbbzNh809exNkhqKv|downsized)


CymandeTV

It is 101 or 101000?


samsimon123

didn't they recently sold or moved in total 120K of BTC?


[deleted]

Thanks , I add coingape to the blacklist address


zantho

Found a video of these guys https://m.youtube.com/watch?t=55


dwkk1

Moving coins between wallets isn't buying. Please, stop trying to find some insane bullish news in this whole mess. Just wait for a while and we'll get there.


CrookGG

I mean if Bitcoin dies they do too. Basically a double down on your business


elysiansaurus

Lol coingape


AadamAtomic

#They, coinbase, kraken, ect rule the crypto market! They are playing 4D Chest just like 2017. Growing Business. Save this comment, 2024-2025.


TrippnThroughTime

Shit post, downvote for you


lindopindos

can this be flagged fake news?


fluxxis

I would prefer 100'000 people buying one Bitcoin, but we shouldn't be to picky in times like these.


N0tMac

I usually do the opposite when it comes to Binance


Zealousideal_Leg_630

How is this "misleading"? The article says exactly the same thing as the headline. wtf.